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Top 10 Vietnamese startups with a huge capital contribution in the first half of 2020

Wednesday 24, 06 2020
Despite the Covid-19 pandemic, many Vietnamese startups still declare their successful capital mobilization of millions of USD in the first half of 2020, including Sieu Viet Group, Propzy, OnPoint, etc. Besides the following top 10, other Vietnamese startups have also successfully mobilized a 7-digit-number capital, such as Edoctor or TopDev, etc.
Top 10 Vietnamese startups with a huge capital contribution in the first half of 2020

Sieu Viet Group

Investment value: 34 million USD

This February, Affirma Capital declared an investment of 34 million USD (equivalent to around 790 billion VND) in the Sieu Viet Human Resource Company (Sieu Viet Group), which owns TimViecNhanh, Vieclam24h, Mywork, and ViecTotNhat. The company announced that it would use this investment to expand its market share as well as implement increased value services for customers.

Sieu Viet’s founders include Phan Minh Tam, the Chairman of the Management Board of STI – the agency investing in 30Shine, Anycar, 24h.com.vn, etc., and Xuan Minh, the Director of Sieu Viet. Currently, Tam is also the Chairman of the Management Board of Sieu Viet. This trade deal has been the 5th investment of Affirma Capital in Vietnam since 2014, following N Kid Corporation, Online Mobile, Loc Troi Corporations, and Golden Gate, etc.

Sieu Viet Group

Propzy

Investment value: 25 million USD

Propzy, which is a startup in proptech (which means applying technology in real estate) in Vietnam, has just declared their capital mobilization of 25 million USD in Series A. Leading this capital contribution are Gaw Capital and SoftBank Ventures Asia – the fund specialized in investing in Asian startups in the early period of the Japanese corporation SoftBank. Other investors are Next Billion Ventures, RHL Ventures, Breeze, FEBE Ventures, RSquare, and Insignia, etc.

Founded in 2016, the technology of Propzy has participated in every phase of a real estate deal, including traditional business centers, the online business platforms, financial products such as a mortgage, and the business software of the housing managers and renters.

Propzy

OnPoint

Investment value: 8 million USD

At the beginning of April, OnPoint – the Vietnamese digital commerce development supporting service suppliers – published that they had successfully mobilized 8 million USD of capital in Series A from several investors, with the Kiwoom Investment Fund of Korea and the Vietnamese DAIWA-SSIAM II Vietnam Growth Fund II L.P being in the lead. Until now, the total mobilized capital of OnPoint has reached an 8-digit number.

With the new capital resource, this startup plans to recruit more employees, invest in the development of strategic technologies, and develop the data analysis capability to provide customers with better services.

OnPoint

Beta Media

Investment Value: 8 million USD

In the middle of June, Beta Media announced a capital contribution agreement of 8 million USD from the Japanese investment fund Daiwa PI Partners. With this agreement, this company has reached a value of 1,000 billion VND.

Beta Media is the firm running the inexpensive movie theaters chain Beta Cinemas, with 12 clusters of cinemas and nearly 60 individual cinemas nationwide, including Hanoi, Thai Nguyen, Thanh Hoa, Bac Giang, Nha Trang, Bien Hoa, Long Xuyen. With the new capital, Beta Media will open new cinema clusters in the following years, while simultaneously developing the franchise model, which means franchising their cinema brand in localities to expand more rapidly.

Beta Media

F88

Investment Value: 6 million USD

Also in June, F88 – the mortgage loan chains in Vietnam – announced that they had received 140 billion VND (equivalent to 6 million USD) in the 3rd growth investment from 2 international financial funds, including the Mekong Enterprise Fund III (managed by Mekong Capital) and Granite Oak with a value of 2,100 billion VND at the end of 2019.

Phung Anh Tuan, the Chairman of the Management Board and the General Director of F88 said: “The new investment from the 2 strategic shareholders will be used for expanding the transaction office chains of F88 as well as increasing the outstanding loans of the 180 existing transaction offices.

F88

Go2Joy

Investment Value: 2.5 million USD

In February, DealStreetAsia declared that Go2Joy – the short-term booking startup in Vietnam – had had a successful capital mobilization in Series A with a value of 2.5 million USD from STIC Ventures and many other investors. The startups previously receiving support from STIC Ventures include Tiki, Cammsys Vietnam, Nanogen Pharmaceuticals, etc.

Founded in 2017, Go2Joy (previously known as Appro Mobile) was founded and is run by CEO Simon Byun. It helps to book hotel rooms by the hour, overnight, and by the day in a quick and private manner.

Go2Joy

BuyMed

Investment value: 2.5 million USD

At the end of April, BuyMed – a B2B startup specialized in online medicine distribution (thuocsi.vn) announced its capital mobilization of 2.5 million USD in Series A. Leading this capital contribution round is the Surge startup acceleration program by Sequoia Capital India and Genesia Ventures.

The new capital will be used by BuyMed to promote its development in Vietnam and other SEA countries. The company also plans on recruiting more employees while building a team in Hanoi to ensure the nationwide distribution network.

BuyMed

JobHopin

Investment Value: 2.45 million USD

In May, the JobHopin AI recruiting AI applications and machine learning startup declared their successful capital mobilization of 2.45 million USD in Series A, increasing the total mobilized capital to more than 3 million USD. In 2018, this startup received an investment of 710,000 USD in the seeding round.

Investors of JobHopin in the last 2 rounds include Sema Translink, KK Fund, Mynavi Corporation, Edulab Capital Partners, NKC Asia, Canaan Capital, and other Vietnamese investors. Job Hopin was founded and managed by Kevin Tung Nguyen – a 9X in the Top 30 under 30 of the Asian Forbes in 2019 – in 2017.

Jobhop

Waves

Investment value: 1.2 million USD

In February, Waves – the sound-specialized content platform founded last year by Kevin Cao and Ben Minh Le – received a capital of 1.2 million USD in the seeding round from its Singaporean partner, Insignia Ventures Partners. Other investors include the Hustle Fund and Skystar Capital.

Currently, Waves provides professional recording, videomaking, and audio services, including modern facilities and recording booth, audio editing, and marketing, etc. This startup sets the goal of becoming one of the top platforms in the South East Asia region in podcasts and recording contents.

Waves

JupViec

Investment value: millions of USD

At the start of March, Tech in Asia said that STI had just completed its strategic investment in the JupViec startup. Without revealing the specific number, Tran Tuan Tai – the investment director of STI – said that the investment value reached millions of USD. After this transaction, STI became the major shareholder of JubViec.

Founded in 2020, JubViec is the platform connecting helpers and households. Before STI, this startup successfully mobilized the capital from the American investment fund Patamar Capital in 2018 and CyberAgent Ventures in 2015.

JupViec

Source: https://cafef.vn/

 
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