Startups have successfully called for millions of dollars worth of investments since the beginning of the year.
In early March 2020, JupViec was added to the investment portfolio of Simple Tech Investment (STI), the company which once poured capital into many startups, including 24h.com.vn, AnyCar and 30Shine.
SIT’s investment director Tran Tuan Tai said on Tech In Asia that the investment capital is worth millions of dollars and the deal has made STI the biggest shareholder of JupViec.
Starting in 2012, JupViec is the technology platform which connects domestic help and clients. The startup is expected to change the traditional maid industry by applying technology in recruitment, training, and management of workers.
The money will be reserved for worker training and improving service quality. The startup intends to enhance the experience on the app, diversify the work list such as cooking, ironing, virus disinfection, sanitation, electronics maintenance and butler services.
In late February, Waves became a better known name in the Vietnamese startup community thanks to the investment of $1.2 million from venture funds, including Insignia Ventures Partners, HustleFund, Skystar Capital and other investors from Asia and Silicon Valley.
|In late February, Waves became a better known name in the Vietnamese startup community thanks to the investment of $1.2 million from venture funds, including Insignia Ventures Partners, HustleFund, Skystar Capital and other investors from Asia and Silicon Valley.|
The money will be spent to develop audios and podcasts on Google Play and App Store in Vietnam before the business is expanded to other regional countries. The startup plans to become the region’s leading audio platform with high-quality audio and podcast.
Currently, Waves now produces more than 30 programs, has 50 programs made in cooperation with partners and more than 500 diverse programs in the world.
Waves app was launched on February 28 as an important step to connect content creators, increase the number of users, and quickly reach the regional market. Besides Vietnam, Waves is also developing in the Indonesian market.
Prior to that, in 2019, many startups with original business ideals also received millions of dollar from investors.
Utop received $3 million from FPT and SBI Holdings from Japan. Utop is an application for garnering and redeeming loyalty points, built on the basis of the Blockchain platform – Akachain.
Meanwhile, Elsa Speak got $7 million in Series A round from some investors, led by Gradient Ventures, a Google’s fund for AI. To date, the startup has called $12 million worth of capital.
More investment deals are expected to be completed this year. Grab runs Grab Ventures Ignite program which aims to help startups in the first phase of operation with capital mounting to $1 million.
Grab Ventures Ignite encourages participation of IT startups in the fields of mobile, food, e-payment, financial services, logistics, e-commerce and AI.
A study found that the quality of Vietnam’s startups is getting better with higher success rate of 36-40 percent.
Voice recognition technology, artificial intelligence (A.I), blockchain and big data are the major trends at startups in Vietnam in 2020.
The Government will develop an innovative and business-centred ecosystem, Deputy Prime Minister Trinh Dinh Dung said at the Vietnam Business Forum 2019 in Hanoi on January 10.