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Business

92 startups received investment in 2017

Released at: 23:08, 16/02/2018

92 startups received investment in 2017

Photo from cafebiz.vn

Sixty-one of the total receive investment of less than $1 million.

by Hai My

Ninety-two Vietnamese startups received investment in 2017, almost double the number in 2016, according to the “Vietnam Startup Deal 2017” report compiled by the Topica Founder Institute. The $291 million invested was up 42 per cent.

The six biggest investments totaled $198 million, with notable deals including the Sea Group (formerly Garena) buying 82 per cent of Foody for $64 million and two other undisclosed startups for $50 million in total. Tiki, meanwhile, received $54 million in investment from JD.com and the STIC Fund in Round C and Vntrip received $10 million in Series B funding.

Adsota, under the Appota Corporation, set up a joint venture with the TNK Factory under the Kakao South Korea Group. Adsota will receive strong support from TNK Factory not only in finance but also many other TNK Factory’s strengths such as management experience, advertising technology, and an extensive customer base in South Korea and East Asia. Adsota will also help South Korean companies penetrate markets of potential in Southeast Asian such as Vietnam, Thailand, Singapore, and Indonesia. The value of the deal is unknown.

The joint venture between the two companies, which own leading mobile advertising platforms in Vietnam and South Korea, marks a new step in their journey towards conquering the mobile advertising market in Southeast Asia.

CEO and Founder of TNK Factory Shin Hee Tae said this is a great opportunity for both companies to grow together in the burgeoning Southeast Asian market. Adsota CEO Tran Quoc Toan emphasized that the two will support each other in terms of technology and marketing products and services.

Sixty-one of the 92 projects received investment of less than $1 million. The most active investment fund was Cyber Agent, which full exited Foody and CleverAds and partially exited Tiki and Vexere.

E-commerce, financial technology (fintech) and food technology (foodtech) received the most investment. Twenty-one deals were done in e-commerce, worth $83 million, two in foodtech (Foody and Cooky) worth $65 million, and eight in fintech worth $57 million. Other areas of interest were media, with nine projects worth $18 million, and logistics and online travel with five projects.

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