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Prime 10 Unicorns In Vietnam
Unicorns: The Vietnamese tech firm, VNLife, has been a comparatively low profile in comparison with the opposite massive names in Southeast Asia and has been one in all Southeast Asia’s unicorns. In nominal phrases, Vietnam’s GDP is USD 261 billion, making it forty fourth globally. Vietnam’s service sector contributes greater than half its GDP. Its largest buying and selling companion is the USA.
Moreover its handy location, entry to fashionable ports and sea routes, low company tax charge, and reasonably priced labor, Vietnam has an intensive startup ecosystem. Ho Chi Minh Metropolis and Hanoi are the 2 greatest cities in Vietnam for startups.
Vietnam features because the nerve middle of the Southeast Asian startup ecosystem within the new millennium, because it hosts greater than 1,600 tech startups, together with ten publicly traded corporations.
Inventiva retains up with the most recent information about startups and the ecosystems that help them, together with enterprise capital funds, non-public fairness funds, and funding banks.
- Sky Mavis
After three years for the reason that launch of Axie Infinity, startup Sky Mavis has shocked its Vietnamese group by reaching a market capitalization of US$2.4 billion after releasing the sport.
It’s a favourite recreation of gamers in lots of Asian international locations, a blockchain-based recreation developed by Vietnamese builders. Many Asian international locations performed this recreation through the Covid-19 epidemic to become profitable whereas staying house.
In accordance with CNBC, Cabanatuan within the Philippines is present process an Axie Infinity phenomenon. Axie just lately offered for over $70,000 for 300 ETH (ETH).
Nguyen Thanh Trung, the CEO and founding father of Sky Mavis is on the helm. Trung, 29, is on the verge of changing into Vietnam’s first tech billionaire. An investor-funded startup introduced $7.5 million to the corporate in Could 2021.
Beforehand, Nguyen Ha Dong’s Flappy Fowl was a worldwide hit. Greater than 50 million folks downloaded Flappy Fowl from its “golden” time in February 2014.
A TechInAsia report mentioned that on the time, Nguyen Ha Dong might have earned $50,000 per day with out incurring any advertising and marketing prices. He shortly acknowledged his identify around the globe.
The net gaming trade grew quickly throughout Covid-19. In ASEAN international locations, the variety of paid on-line recreation gamers grew from 35% to 45% between the primary and second quarters of this yr, in accordance with RedSeer, a administration consulting agency.
The identical is true for Vietnam. Dezan Shira and Associates say that Covid-19 has rekindled curiosity in Vietnam’s on-line gaming market, seeing fast progress.
Regardless of its influence on social life, Covid-19 additionally provides alternatives. Video games, specifically, take off when shoppers have to remain at house as a result of they supply leisure, however additionally they earn cash. Startups can develop if they will reap the benefits of these alternatives.
Vietnamese gaming trade chief VNG Company, based by 5 members in 2004 underneath the identify Vinagame to supply Vietnamese players with technology-driven video games, is among the most well-known names within the nation’s recreation trade.
Vo Lam Truyen Ky created an unprecedented report for the Vietnamese on-line recreation market when greater than 200,000 folks performed the sport in 2005 when VinaGame and KingSoft signed a distribution contract.
Solely three years after VinaGame’s institution, it generated $17 million in income from its Web cafe administration system, Cyber Station Supervisor.
Cloud companies, private finance, and cellular funds are simply three of the world’s hottest tech traits that VNG has tailored shortly to meet up with.
The company distributes the world’s top-selling video games in Vietnam and organizes many e-sports tournaments in Southeast Asia. Additionally, many “made in Vietnam” video games are developed and gained internationally. Opening branches in locations reminiscent of Thailand, Myanmar, and the Philippines and cooperating with main worldwide companions have allowed VNG to discover alternatives in worldwide markets.
When VNG was valued at $1 billion in 2014, it turned the primary unicorn.
To develop into a unicorn, VNPay took benefit of alternatives. In accordance with the eConomy SEA report, VNPay turned Vietnam’s second unicorn firm after VNG in 2020 with its QR code fee community.
Vietnam’s largest metropolis, Hanoi, has a well-liked cashless fee community referred to as VNPay. Many banks have partnered with this utility, attracting over 15 million customers.
VNPay is among the fee and monetary companies startups to obtain giant funding capital in 2020 in Southeast Asia, contributing to a report degree of $1.7 billion in funding capital for Southeast Asian fintech startups, up by greater than 40% versus final yr.
VNPay and VNG are as dominant in Southeast Asia as Bukalapak, Traveloka, Bigo, Gojek, Lazada, Seize, Razer, Sea Group, OVO, and Tokopedia. The startup ecosystem in Vietnam is predicted to thrive over the subsequent decade to draw 10 expertise unicorns.
An extra Vietnamese startup, Momo, has introduced that it has 20 million customers and has a 100% person progress charge after only one yr. Startups like this will even develop into tremendous apps, open platforms that assist corporations remodel.
E-commerce, nevertheless, will not be affected by the pandemic and has efficiently raised over $100 million in funding capital.
The variety of startups in Vietnam has grown exponentially, from 400 in 2012 to just about 1,800 in 2015 and three,000 in 2017, in accordance with “The image of artistic startups in Vietnam.” In 2020, complete funding reached $451 million, 48% beneath the earlier yr, and some giant corporations made vital investments. Solely about 17 % of funding offers decreased, nevertheless.
NIC, a division underneath the Ministry of Planning and Funding, launched the Vietnam Innovation and Expertise Funding Report 2020. The Vietnamese authorities has been making wonderful efforts to advertise digital financial progress and to create a conducive enterprise setting in order that international traders can put money into Vietnamese startups. Subsequently, Vietnam definitely has an opportunity at making 10 “unicorns” within the years to come back.
Firm overview
Authorized Title |
Vietnam Cost Resolution Joint Inventory Firm |
Industries |
Banking, Client Electronics, E-Commerce, Finance, Monetary Companies, FinTech, Funds, Telecommunications |
Founder(s) |
QUANG THONG NGO, Tanh Le |
Based Date |
Mar 1, 2007 |
Complete Funding Quantity |
NA |
Traders |
Viet Nam Cost Resolution Joint Inventory Firm is funded by GIC. |
- VNPay
A Sequence Of Funding Rounds Led By U.S. Traders Have Raised Over $250 Million For VNPay, Which Offers Digital Funds Companies.
SoftBank Imaginative and prescient Fund and GIC, two-state funds based mostly in Singapore, reportedly supplied $300 million to VNLife in 2019. Nonetheless, it didn’t disclose the funds on the time.
Agribank, Vietcombank, VietinBank, and BIDV are a number of the high banks in Vietnam powered by a VNPay cellular app.
In accordance with VNLife, over 15 million shoppers use the apps to pay payments, switch cash, top-up cellular credit score, guide bus tickets, and even store for groceries.
Additionally, the corporate operates the cashless fee community VNPay-QR, which serves over 150,000 retailers and 22 million customers.
VNPay will not be an e-wallet itself. Nonetheless, VNPay-QR competes with digital wallets like MoMo and Moca to realize customers and retailers.
70 p.c of the Vietnamese inhabitants doesn’t have entry to banking companies, opening the door for gamers able to integrating monetary companies and successfully monetizing acquired information.
Vietnam’s main e-commerce firm and the digital funds big are teaming as much as push up demand for on-line purchasing. Clients are anticipated to learn from the partnership via a secure, quick, and handy expertise.
A person can add the merchandise they wish to buy to their purchasing cart after logging into the TIKI web site on a pc. Then, after selecting VNPAY-QR and scanning the QR code, they will pay shortly. As well as, TIKI app prospects will be capable to make funds seamlessly since they solely want to verify the fee with no need to sign off to make use of different cellular banking companies.
By VNPAY-QR code scanning on the TIKI web site and app, shoppers can use VNPAY to make on-line funds.
Clients’ habits are quickly altering, and this deal displays the market development. With on-line purchasing on the rise, many shoppers are turning to contactless fee strategies instead of money.
Director of VNPAY-QR, Ngo Anh Tuan, says his firm strives to realize its mission by enhancing the digital purchasing expertise. Paying with money has develop into commonplace because it makes life simpler, so TIKI is thrilled to companion with VNPAY to supply seamless funds.
Vietnam hopes to learn from this strategic collaboration because it continues to develop the digital age. Greater than 25 million prospects use VNPAY e-wallets and cellular banking, making it the biggest fintech firm in Vietnam in digital funds. As well as, VNPAY consistently diversifies its choices in response to demand.
Moreover, a consultant of the TIKI e-commerce platform shared that the quite a few advantages of VNPAY-QR’s incentive packages and varied advantages will enchantment to prospects.
Many engaging provides, free transport, and super-fast supply can be found to prospects when purchasing at Amazon. Shoppers profit from VNPAY’s growth, however e-commerce distributors profit from reaching extra prospects and selling gross sales extra simply.
VNPAY has introduced a number of offers to rejoice the partnership. When paying by VNPAY-QR and getting into the code VNPAYNEW, consumers on TIKI will obtain a 20 p.c low cost on orders between $45,000 and $149,000. As well as, a reduction of VND10,000 ($0.44) can be provided to prospects when getting into the VNPAY10K code on payments from VND99,000 ($4.33). Often it’s going to announce new provides.
Firm overview
Authorized Title |
Vietnam Cost Resolution Joint Inventory Firm |
Industries |
Banking, Client Electronics, E-Commerce, Finance, Monetary Companies, FinTech, Funds, Telecommunications |
Founder(s) |
QUANG THONG NGO, Tanh Le |
Based Date |
Mar 1, 2007 |
Complete Funding Quantity |
NA |
Traders |
Viet Nam Cost Resolution Joint Inventory Firm is funded by GIC. |
- Flying larger
In a sequence C funding spherical led by Spark Capital, the Amsterdam-based cloud communications platform MessageBird raised $200 million. MessageBird now has a market capitalization of $3 billion.
- MessageBird permits builders and enterprises to speak with prospects through omnichannel merchandise and cloud-based APIs.
- Attributable to Covid-19, MessageBird is gaining traction in response to a worldwide surge in corporations in search of messaging-first communication platforms. Startup transforms into an omnichannel platform-as-a-service firm from a communications platform-as-a-service.
By securing extra funding, MessageBird will be capable to triple its world staff dimension and develop additional into Europe, Asia, and Latin America.
It’s a transfer that may elevate Vietnam Airways among the many world’s finest airways for the corporate’s 14th Airbus A350-900.
The Airbus A350-900 made its debut with Vietnam Airways in July 2015, when it turned the primary wide-body plane of its technology in Southeast Asia.
The corporate’s Airbus A350-900 fleet has been serving home and worldwide routes for greater than 4 years, primarily transcontinental routes to Europe, Australia, and North Asia and home routes between Hanoi and Ho Chi Minh Metropolis.
Among the many Vietnam Airways Group (which incorporates Vietnam Airways, Jetstar Pacific, and Cambodia Angkor Air), there are 105 plane from Airbus, together with 89 narrow-body plane and 16 wide-body plane. On the identical time, Vietnam Airways accounts for 88% of its fleet with 86 Airbus airplanes.
Vietnam Airways’ president and CEO, Duong Tri Thanh, mentioned, “Airbus plane account for 90% of our fleet, demonstrating the sheer scale of the corporate’s contributions.”
Firm overview
Authorized Title |
Flying larger |
Industries |
flights |
Founder(s) |
Nguyen Thi Phuong Thao |
Based Date |
NA |
Complete Funding Quantity |
NA |
Traders |
NA |
- VNG
Vietnamese Web big VNG is among the greatest within the nation. Vietnamese players and tech-savvy people are accustomed to his entrepreneur story. Nonetheless, in all probability few have heard about his entrepreneurial story outdoors of Vietnam. That’s the reason I organized for this interview.
Vinagame was based in 2004 as Vinagame. However right now, they accomplish that rather more. It owns social networking properties, in addition to media properties. But Vinagame owes its existence to Minh’s pursuits in gaming. When he was 15, he was enamored of Nintendo and PC video games, like most boys. In accordance with him:
As younger kids, many children my age have been accustomed to pc video games. In 1992, I used to be 15 years previous, and the primary video video games have been launched in Vietnam. After that, pc video games have been my ardour. In 2004, I based VNG in order that we might develop video games. Initially, I wished to develop video games.
Shares of VNG have been offered for 1.861 million Viet Nam dong. Contemplating the variety of shares issued, 34.5 million, and the variety of shares in circulation, 27 million, the Singaporean traders valued the corporate at $2.77 billion.
Analysts have been shocked by the excessive value. The revenue reported by VNG was about VND347 billion in 2018. That is fairly small in comparison with the revenue of one other giant firm – FPT.
In accordance with Nhip Cau Dau Tu, traders are effectively inside their rights. They worth shares based mostly on what they predict the longer term will yield.
Shares of VNG promote for a whole bunch of 1000’s of dong on the OTC market. In 2010, traders believed that VNG shares have been value a whole bunch of 1000’s of VND, in accordance with information on sanotc.com.
The undivided gross earnings of VNG at the moment are VND4.968 trillion regardless of having a constitution capital of VND345 billion.
Tech corporations are characterised by their distinctive potential to develop applied sciences that may change folks’s lives for the higher, which may translate into massive earnings for them. Consequently, apple, Amazon, Alibaba, and Tencent additionally gained sharp progress.
A VNG share is value a whole bunch of 1000’s of dong on the OTC market. In 2010, traders believed that VNG shares have been value a whole bunch of 1000’s of dong, in accordance with information on sanotc.com.
It set a report value of VNG per share in 2017 at VND800,000.
VNG is a beautiful funding as a result of its earnings have now exceeded its constitution capital by a big margin.
VNG’s undivided gross earnings have risen to VND4.968 trillion, regardless of having a constitution capital of VND345 billion. Regardless of the sharp drop in revenue, the corporate’s constitution capital was nonetheless larger than its 2018 revenue of VND347 billion. As of 2018, VNG reported earnings per share of VND12,000. Its shares have been in circulation at 27 million and issued at 34.5 million.
Analysts mentioned that there are only a few shares with earnings per share above VND12,000 on Vietnam’s inventory market. In distinction, if EPS have been calculated utilizing VNG’s 2017 earnings, it will come out to VND34,000.
Regardless of the challenges VNG is dealing with right now, such because the discount in income from video games, Singaporean traders continued to belief the corporate’s future within the transactions made final February.
VNG’s potential is bigger than FPT’s, says Huynh Minh Tuan, CEO of Bien An Toan, asset administration and consultancy agency.
FPT is primarily engaged in software program growth. Moreover, VNG’s Zalo is a complete ecosystem encompassing extremely profitable companies, reminiscent of media and video games.
Money funds will regularly get replaced by e-wallets, in accordance with Tuan. So VNG would have massive income streams by that point with Zalo.
Firm overview
Authorized Title |
VNG |
Industries |
Web, Software program |
Founder(s) |
Bryan Pelz, Hong Minh |
Based Date |
2004 |
Complete Funding Quantity |
$500K |
Traders |
CyberAgent Capital and Tencent are the newest traders. |
- MoMo
Cellular customers pays for a whole bunch of companies with one contact utilizing MOMO E-Pockets. As well as, the Momo digital pockets extends past cash transfers to cowl areas reminiscent of film tickets and airline tickets.
In 2019, the Vietnamese on-line fee market grew quickly, with a whole bunch of Fintech corporations rising and big international capital funding. How spectacular is that? Momo, a digital pockets, has remodeled cellular funds. The Momo Tremendous App is the one-stop answer for cashback, reductions, reward vouchers, and so on.
Latest years have seen outstanding progress in Vietnam’s digital fee sector. Practically 100 fintech corporations function in Vietnam, together with 26 middleman fee service suppliers, up from 40 in 2016 to virtually 100 in 2018. Digital Funds will generate US$10,073 million in complete transactions in 2020, in accordance with Statista.
Additionally, cellular funds utilizing e-wallets are rising in reputation. VND 53,1 trillion (USD 2.3 billion) value of e-wallet transactions have been reported in 2017 by the State Financial institution of Vietnam (SBV). As well as, the Vietnamese fintech sector has authorised licenses for about 30 startups offering middleman fee companies, largely e-wallets.
In a market the place e-wallets have gotten extra aggressive, Momo E-Pockets is shifting to strategy alternate options to the predominant desire for money within the nation. Along with Vietnam, Momo tremendous app is now utilized by high improvements in world fintech corporations.
Right here’s a have a look at Momo Vietnam’s cellular pockets for those who’re questioning what it’s or the way it turned a brilliant pockets!
Following the footsteps of outstanding Asian digital gamers reminiscent of Tencent’s WeChat, Go-Jek in Indonesia, and Seize in Singapore, MoMo has shortly developed into a life-style “super-app.” It now has as much as 10,000 companions from varied industries, together with shopper finance, insurance coverage, e-commerce, purchasing, and transportation.
Momo now has over 100 “mini-programs” secured. Momo Tremendous App gives an opportunity to present a extra immersive expertise to prospects. Customers might ship cash, pay payments, purchase insurance coverage insurance policies, and pay for issues at greater than 100,000 fee terminals round Vietnam with out downloading any extra apps.
Firm overview
Authorized Title |
MoMo |
Industries |
Pockets |
Founder(s) |
Diep NguyeN |
Based Date |
2007 |
Complete Funding Quantity |
USD 134M |
Traders |
Warburg Pincus, Affirma Capital, Commonplace Chartered and a couple of Different Traders |
- Sendo
Vietnamese e-commerce retailer Sendo is the primary on-line market in Vietnam the place patrons and sellers can commerce merchandise. It serves hundreds of thousands of shoppers and a whole bunch of 1000’s of retailers all through Vietnam and is a Vietnamese software program big FPT Company subsidiary. Sendo prides itself on repeatedly upgrading its platform and enhancing buyer expertise by investing in R&D, synthetic intelligence, and massive information.
A load testing venture for Sendo’s web site included the deployment of InfluxDB on the back-end. As well as, the efficiency of a cloud-native back-end infrastructure was examined utilizing InfluxDB and Grafana, and K6, a developer-centric, open-source, load, and efficiency regression testing software.
Among the many options the staff at Sendo discovered compelling about InfluxDB, mentioned Hiep Nguyen, one of many firm’s back-end builders. One in all them is the velocity at which information is ingested into InfluxDB. The Sendo staff discovered that the ingestion charge of InfluxDB stays comparatively steady for the reason that database is designed for time-series information. In accordance with Hiep’s exams, a single InfluxDB node can ingest 50 to 100 thousand strains per second.
In accordance with Hiep, retention insurance policies are InfluxDB’s second most compelling function. The info in InfluxDB will not be completely saved till manually purged, as is the case with conventional databases. As a substitute, information retention insurance policies are set by customers, which implies that information is routinely downsampled in accordance with the retention insurance policies. With excessive volumes of information coming in, storing all of it can typically show costly and will finally create a posh dataset at Sendo, particularly in working with and gathering time-series information.
In the end, Hiep and his colleagues appreciated the pliability InfluxDB provided them in working with their information, together with the flexibility to run Steady Queries on the time sequence information they have been gathering to carry out sure operations.
Firm overview
Authorized Title |
Sendo |
Industries |
On-line retailer |
Founder(s) |
Linh Tran Hai, Nguyen Phuong Hoang, Dung Nguyen Dac Viet |
Based Date |
2012 |
Complete Funding Quantity |
USD 130M |
Traders |
Kasikornbank, Beenos, SoftBank Ventures Korea and 9 Different Traders |
- Tiki
Shoppers profit vastly from e-commerce in right now’s fast-paced society. Tiki.vn is among the hottest manufacturers amongst shoppers in Vietnam, an rising nation with an estimated 100 million inhabitants and projected market dimension of $23 billion by 2025. For all Vietnamese, the model identify is well-known. So how does Tiki examine to its followers?
Tiki, quick for “saving” and “looking” in Vietnamese, has grown to be probably the most common e-commerce web sites in Vietnam, trailing solely Singapore’s Shopee by way of net visitors however forward of Alibaba-backed Lazada and Softbank Ventures Asia-backed and FPT’s subsidiary Sendo. Tiki.vn wouldn’t exist in right now’s saturated Vietnamese trade if it hadn’t been for the founder and CEO Tran Ngoc Thai Son, who earned a Grasp’s diploma in e-commerce in New South Wales, Australia, in 2007. Son and Tiki started with a $5,000 funding and have raised $192.5 million from traders round Asia, together with Japanese banking conglomerate Sumitomo and Chinese language JD.com.
Temasek Holdings, backed by the Singapore authorities, VNG, a Vietnamese IT behemoth, InnoVen Capital, an Indian enterprise capital agency, and, most just lately, Northstar Group, a Singaporean non-public fairness agency.
Although the corporate’s valuation has not been revealed, analysts say Tiki is value greater than $1 billion, making it Vietnam’s second unicorn.
Son, like Jeff Bezos, launched Tiki as a web site to promote international language books after spending a few years learning and dealing overseas. When he returned to Vietnam in 2009, he immediately acknowledged the necessity for readers to amass and browse books, notably in English. “Studying books will not be a behavior of most Vietnamese folks,” he defined, “however it is a sign of mental requirements for many who wish to modify their studying habits sooner or later.”
When Tiki first started promoting books, it had fewer than 100 titles in English. Son used his bed room to retailer books and develop Tiki resulting from monetary difficulties and lack of funds. To keep away from funding and as a co-founder, Son used to pack and ship books to prospects himself if any orders got here in.
Son by no means gave up regardless of how tough it was. After two years of steady efforts, Tiki shortly turned one of the best e-commerce web site by way of customer support and supply and the best choice for e-commerce web sites specializing in books.
Tiki is among the main e-commerce web sites in Vietnam due to its endurance. The efforts and passions of Mr. Son aren’t betrayed regardless of many obstacles.
CyberAgent Ventures chairman Soichi Tajima invested $500,000 in Tiki in March 2012, making him the primary investor. Tiki has been the primary on-line bookstore in Vietnam for 2 years. This can be a fast-growing startup with 80 staff, officers, and well-prepared storage amenities. Tiki was approached in 2016 by a Vietnamese expertise conglomerate, VNG, which operates the Zing social community, Zalo, a messenger app, and plenty of common on-line gaming companies. VNG invested VND 384 billion ($17 million) in Tiki to develop software program to bolster the companies and merchandise it gives.
By prospects’ purchasing patterns, the CEO of Tiki found out that on-line purchasing was a viable and fast-growing enterprise. Consequently, the Tiki model has developed from an internet bookstore to an interdisciplinary retailing on-line retailer that options 10 important classes: books, telephones, tablets, digital gadgets, home equipment, home items, magnificence gadgets, stationery, and toys, trend, clothes, and maternity and toddler provides. In Ho Chi Minh Metropolis and Ha Noi, Vietnam’s two largest cities, Tiki has two main success facilities.
Moreover, a 55,000-square-foot success middle in Ho Chi Minh Metropolis can retailer 1.5 million to 2.2 million merchandise. Tiki is trying to cut back supply time from 2 to 4 hours within the two main metropolises of Ho Chi Minh Metropolis and Ha Noi due to many merchandise.
Tiki has survived and grown to develop into probably the most well-known on-line purchasing web sites within the extremely aggressive Vietnamese e-commerce enterprise.
By a shift in shopping for habits, Tiki has glad its shoppers with immediate supply, high-quality merchandise, and time-saving companies. To assist new enterprise house owners obtain peak efficiency, Son provided the next recommendation: “Three major standards decide funding success: pleasure, expertise, and market.”
Usually, Tiki Vietnam’s and Mr. Son Tran’s success is among the most inspiring tales that conjures up and promotes the expansion of entrepreneurs in Vietnam. Consequently, we count on that there shall be an rising variety of startup success tales in Vietnam within the coming years. For extra info on Vietnam startups, the enterprise setting, and funding prospects, go to VietLaunch.
Firm overview
Authorized Title |
Tiki |
Industries |
On-line retailer |
Founder(s) |
Tran Ngoc Thai Son |
Based Date |
2010 |
Complete Funding Quantity |
USD 67M |
Traders |
Northstar Group, InnoVen Capital, JD.com and eight Different Traders |
- Topica
The Vietnamese startup Topica Edtech Group raised US$50m in Sequence D funding.
Northstar Group led the spherical.
It plans to make use of the funds to enhance its expertise and AI capabilities and speed up its product growth.
A supplier of on-line schooling in South East Asia, Topica Edtech Group, was based 10 years in the past. It provides:
Just a few US universities acknowledge credit taken from Topica-powered packages, together with top-tier establishments within the Philippines, Vietnam, and the USA; Topica Uni provides on-line levels via collaboration with 16 universities, together with top-tier US establishments;
A Thai, Indonesian, and Vietnam-based on-line tutoring firm referred to as Topica Native;
Offering video studying content material on matters starting from guitar classes to elevating kids, Topica Edumall is a short-skill coaching platform in Thailand and Vietnam.
Topica Founder Institute is an accelerator that has helped its graduates increase almost 15 million US {dollars} in three years.
With workplaces in Danang, Bangkok, Hanoi, Jakarta, HCMC, Manila and Singapore, Topica presently employs 1,400 full-time workers.
Topica, a seasoned member of Vietnam’s increasing startup ecosystem, has raised $50 million in a Sequence D spherical, making it one of many largest fundraising rounds for a Vietnamese digital enterprise.
Topica has shaped a decade in the past and claimed to have benefited over 1 million adults via its on-line schooling community, which spans six of Southeast Asia’s important international locations.
Whereas Southeast Asia’s digital financial system has an extended technique to go earlier than competing with China and India, it’s undoubtedly sizzling proper now.
There are 650 million folks residing in Southeast Asia, together with 350 million web customers throughout the area’s 6 greatest international locations (greater than the US inhabitants). The digital financial system of Southeast Asia is predicted to extend to $72 billion this yr, up from $50 billion final yr and $19.1 billion in 2015.
Southeast Asia’s web financial system is predicted to develop from $200 billion to $240 billion by 2025, doubling its present dimension.
What’s the present driving power? On-line journey brings in $30 billion in gross sales, simply forward of e-commerce, which brings in $23 billion.
Firm overview
Authorized Title |
Topica |
Industries |
Instructional expertise |
Founder(s) |
Pham Minh Tuan |
Based Date |
2008 |
Complete Funding Quantity |
USD 50M |
Traders |
Northstar Group, Openspace Ventures, Patamar Capital and seven Different Traders |
- Coc Coc
A Vietnamese net browser and search engine have been the corporate’s first merchandise to launch in Could of this yr. Coc Coc attracted its first 10 million customers inside a yr. In accordance with Google Analytics information from March 2016, Cc Cc’s month-to-month viewers has climbed to twenty million distinctive folks. In accordance with International Stat Counter, Cc Cc is the second most used browser in Vietnam.
Cc C is an organization based mostly in Hanoi that develops massive data-driven promoting options for the Vietnamese market.
Vietnamese have been as soon as often called the “three massive lords” of IE, Firefox, and Chrome. Nonetheless, Vietnamese haven’t been utilizing Web Explorer prior to now two years. Additionally, Firefox has been forgotten.
Chrome is incessantly referred to as out for “consuming up” an excessive amount of of a pc’s CPU energy by pc customers.
Chrome, the enormous, is dealing with intense competitors from Coc Coc. In comparison with Chrome and different browsers, Coc Coc is a “rookie.” That is its second yr of existence. In accordance with analysts, Coc’s builders can study from such veteran expertise and keep away from the veterans’ errors.
To problem Chrome’s No 1 spot, three Vietnamese younger males developed the Ec Coc utility to compete with their “elder brothers” IE and Firefox.
Coc Coc was named one of many high three browsers in Vietnam in Could 2013. It’s presently Chrome’s strongest competitor, and it’s projected to overhaul it in Vietnam.
Coc Coc can meet the calls for that Vietnamese customers have for contemporary browsers, reminiscent of accessing Fb from any cellular community operator and downloading clips and movies from web sites.
Customers can obtain information at lightning velocity with Coc Coc. Furthermore, it gives varied companies to Vietnamese prospects, together with verifying Vietnamese spelling and offering the right spelling with an accuracy charge of over 90%. As well as, Coc Coc has these days begun to help customers in answering math and chemical points.
Analysts say that the Coc Coc staff has optimized the browser to serve Vietnamese web sites higher. The Coc Coc browser is made for Vietnamese by Vietnamese builders.
Firm overview
Authorized Title |
Coc Coc |
Industries |
Search engine |
Founder(s) |
Victor Lavrenko |
Based Date |
2008 |
Complete Funding Quantity |
USD 34M |
Traders |
Burda Principal Investments, Future Issues |
- Leflair
Leflair provides its members entry to a broad vary of worldwide manufacturers in trend, house, and children classes, unavailable in Vietnam. A brand new product is added to the platform each morning for a restricted interval. Delivery is dealt with via abroad warehouse hubs. Sequence A funds will improve the corporate’s warehouses, which have transitioned to a retailer mannequin.
Taking your online business to the subsequent degree in right now’s crowded eCommerce market has by no means been more difficult. Nonetheless, a startup might have already put the precise plan of proving its uniqueness, irrespective of how one plans to do it.
Thankfully, LeFlair is a well known retail platform that distinguishes implementation and options. Furthermore, the premise of interesting to a specific nation’s viewers enabled LeFlair to acquire a funding sum of US $11.8 million.
LeFlair is a purchasing portal that concentrates solely on companies identified for his or her high-quality merchandise. Nike, Adidas, Daniel Wellington, Michael Kors, and plenty of different manufacturers are among the many featured manufacturers on the buying portal.
Given LeFlair’s purpose of bringing real and high-quality merchandise to the Vietnamese folks, the net retailer is appropriate for anybody searching for a contact of luxurious with out sacrificing high quality for a cheaper price.
Folks trying to put money into luxuries, in accordance with LeFlair, are perfectionists who will solely purchase something if it suits even the tiniest of their necessities. Consequently, LeFlair assures that the buyer has entry to a various vary of things. Consequently, LeFlair is the perfect purchasing vacation spot for anybody trying to spend their cash on simply the best issues.
When purchasing for luxurious, shoppers’ doubts concerning the product’s authenticity are all the time current of their minds. LeFlair acknowledges the apprehension and assures prospects that buying issues are 100% genuine. LeFlair informs its shoppers that they don’t have anything to worry and that they might buy with out worrying in regards to the high quality.
Firm overview
Authorized Title |
Leflair |
Industries |
trend |
Founder(s) |
Pierre-Antoine Brun, Loïc Gautier |
Based Date |
2015 |
Complete Funding Quantity |
USD 13M |
Traders |
GS Group, Belt Street Capital Administration, Capital Administration Group and 5 Different Traders |
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