SOME STARTUP OF VIETNAM SUCCESSFULLY RAISED CAPITAL IN 2021

In 2021, a series of Vietnam startups have successfully called for capital, and the biggest deal recorded more than 100 million USD.

MoMo Wallet
On January 13, 2021, MoMo e-wallet announced the completion of the fourth round of funding (Series D) with the participation of investors, who are existing shareholders including Warburg Pincus, Tybourne Capital Management, and Affirma Capital. This round also spawned new investment funds such as Goodwater Capital, Macquarie Capital, and Kora Management. As revealed by MoMo’s General Director, the Series D round of funding was planned 12 months ago. However, due to the complication of the Covid-19 pandemic, the capital raising process could not take place as usual because of inadequacies in moving to meet foreign investors.

Source: Vietnam Investment Review

Although the numbers of this deal have not been announced specifically, according to Bloomberg’s information, it could be up to more than 100 million USD. Information from a representative of MoMo, the new capital will be used to build a new Super App platform, upgrade the ecosystem to serve tens of millions of users and business partners in Vietnam.

GoStream
GoStream Technology Joint Stock Company has just reached the Series A investment agreement from VinaCapital Ventures, according to sources, the amount of capital received is up to millions of USD. This Vietnamese startup is a leader in providing cross-platform Livestream tools for sellers, marketers, and content creators on social networks. Previously, this startup received an investment capital of 200,000 USD from VinaCapital Ventures and Zone Startups Vietnam in the 2019 seed round.

 Source: baotintuc. vn

If you look at the startup ecosystem in Vietnam now, it’s difficult to find a fast-growing business like GoStream with the pioneering advantage in the field that is considered a trend of the whole world in the current context. Due to the Covid-19 situation, the demand for online purchases increased rapidly, promoting GoStudio products used for live streaming to attract more and more market interest.

ELSA
ELSA – an English learning app – announced it successfully raised $15 million in a Series B funding round (Bloomberg). This app has received great attention from Asian investors, with the participation of VI (Vietnam Investment Group) as a strategic investor in this round, along with SIG. In addition, ELSA’s investment funds from the previous round such as Monk’s Hill Ventures, SOSV, and especially Gradient Ventures – a venture fund specializing in investing in Google’s Artificial Intelligence (AI) – also continued to pour capital into this project. Endeavor Catalyst, Globant Ventures, and The Edge (David Evans – a member of the famous U2 band) are the new investors in this Series B round, which will support planning to explore the Latin American market to ELSA.

 Source: ELSA Speak

ELSA is an English speaking and communication learning application, with the ability to recognize speech by deep learning technology (Deep Learning) with over 95% accuracy. This application will listen to learners pronounce English, then give instant feedback on mistakes and guide to correcting according to native standards to each syllable.