September 8, 2016
Topica, the Hanoi based accelerator and edtech group, announced that Vietnam saw two dozen startups receive seed to Series C funding in the first seven months of 2016.
Vietnam’s VNG Corporation made a series C investment in e-commerce platform Tiki (reported at around $17 million in exchange for a 38 per cent equity). GotIt!, the Vietnamese founded tutoring service, also received a $9 million Series B.
Topica also unveiled several previously undisclosed investments. These include seed rounds into EZ4Home, a 3D online showroom for housing interior, and Fundy, a crowdfunding platform. Also notable is Captii Ventures’ investment in MimosaTEK, an IoT system designed for agriculture, and angel investor Hajime Hotta’s foray into Wisami, an SaaS platform for human resource management.
10 of the early stage startups in the list were incubated by Topica. Inspired by their own success, the group has forayed into Thailand, where it is presently training 36 founders. Topica’s 15 incubatees have garnered a combined valuation of $80 million. Some of the heaviest funded companies include internet form Appota, edtech platform Kyna, and freelance marketplace Vlance.
In 2015, Vietnamese startups attracted 67 venture capitalists and angel investors – a 130 percent spike from 2014.