With the development potential and the ability to catch the technology wave, Vietnamese start-ups have attracted foreign venture capital funds as well as domestic investors.

Hot industries that attracted large amounts of capital last year were financial technology (Fintech), games, education, healthcare and e-commerce.

The Australian Government has committed 4.9 million AUD (3.53 million USD) of investment in Vietnam's venture fund Ascend Vietnam Ventures (AVV) to assist local startups, according to the Australian Embassy in Vietnam.

Startup Selly, Vietnam's social commerce model, has raised $2.6 million in a Pre-Series A funding round from investment funds CyberAgent Capital, Do Ventures, Genesia Ventures, JAFCO Asia and KVision.

In January, many tech startups in Vietnam received millions of USD from large foreign funds from the early round.

In the digital era, advanced technologies have wider implementations in various aspects. Many startup businesses in Vietnam have chosen technological products and services as their development direction and have achieved impressive results so far.

Total funding into Vietnamese startups over the past year is likely to have reached a new high with more startups crossing over into a unicorn status.

In the latest fund-raising round, financial technology startup MoMo received $200 million of investment capital, bringing its total value to over US$2 billion.

The gradual maturity of Vietnam’s startup ecosystem is expected to boost fundraising and dealmaking activities.

Vietnam currently has over 1,000 organizations capable of supporting startups, including technology startups, with 202 coworking zones, 79 business incubators and 38 business promotion organizations.

Despite the severe Covid-19 pandemic, the Vietnamese startup ecosystem is witnessing an impressive growth, with various startup projects being successful in gaining millions of dollars of capital this year.

The Sipher company of Vietnamese businessman Nguyen Trung Tin has received US$6.8 million in investment in the latest capital raising round.

HASU, developed by young female IT expert Ngo Thuy Anh during a special time – the first wave of Covid 19 in Vietnam, has become the first application on comprehensive healthcare for people aged over 50 in Vietnam.

Vietnam’s edtech startups are luring the interest of both local and foreign venture capital funds as they are bringing new business models to tap into millions of online students.

Inexpensive Chinese smartphones from Xiaomi, Oppo, Vivo, One Plus and Realme are gradually knocking out big names like LG, Samsung or even Apple.

Despite the global recession, Vietnamese startups have still been attracting millions of US dollars from foreign funds in the beginning of 2021.

Rapid digital transformation will serve as an important driving force for technology firms to become unicorns in the future.