Vietnam has been emerged as a hub of startups since the year 2017. They have created a close competition with Singapore and Indonesia. The government has bought relaxations to many regulations in order to support the startups in the country. Let’s look at the top startups of Vietnam.
Nano Technologies is a Financial service and a fintech company. It was founded in the year 2020 and is located in Hanoi, Vietnam. The startup lets the workers to gain access immediately to their earned wages through a mobile application called VUI.
The company claims that it provides services to more than 20,000 employees from various companies and around 50-60 % of the employees opt for the services as soon as the employers give them a choice.
Duong Minh Logistics
Duong Minh Logistics are involved in logistics, transportation, supply chain management and freight service. The company was founded in the year 2005 and is located in Ho Chi Minh City, Vietnam.
The startup uses a unique approach in the logistics sector which will save trillions of dollars every year. They provide a service integrating sea and land transportation from the South to North Vietnam. It is one of the top 10 logistic startup in the Asian countries.
Sky Mavis is a blockchain and a Video Games startup company. It was launched in the year 2019 and is located in Ho Chi Minh City, Vietnam. The company aims at simplifying blockchain technology. They are concentrated on bringing thee benefits of blockchain to everyone through fun and practical applications.
The startup is also a developer of one of the most popular blockchain games in the world called Axie Infinity.
Axie Infinity is a blockchain based video game. It is a game that is concentrated on collecting, raising and battling fantasy creatures called Axies. It was founded in the year 2018 and the company is located in Ho Chi Minh City, Vietnam.
Axie Infinity is one of the original Non-Fungible Token (NFT) Product and the company claims to have been working on NFT’s even before anyone cared about it. The citizens of Philippines are even earning cryptocurrencies by playing this game.
MODMO is a E-mobility based startup company. It was founded in the year 2019 and is located in Ho Chi Minh City, Vietnam. The company provides e-mobility creating zero emission urban transportation vehicles. It focuses on design and versatility.
The startups have the most high-tech production line globally where more than 150 robots are involved in their production process.
Foody.Vn is a restaurant and food-related review mobile application which is available in the South East Asian countries. The startup belongs to the lifestyle category and their total funding has not been disclosed. Currently they have raised capital through a Series C funding. One of the major investors of the startup is Tiger Global Management.
Tiki.Vn is an e-commerce based startup company located in Vietnam. The startup focuses on the social aspect of e-commerce shopping. The startup belongs to the enterprise solution category and their total funding has not been disclosed. They have raised capital through a Series A funding. Their major investors are Seedcom, Cyberagent Ventures.
iCare Benefits is financial services startup located in Vietnam. The startup focuses on providing services to bank, individual users and corporate clients. The startup belongs to the payment category and their total funding has not been disclosed. They have currently raised capital through Series C funding and the major investors of the startup is Unitus Impact.
Sendo is a Vietnam based e-commerce website. The startup provides e-commerce services such as clothing, home-ware, cosmetics, tech accessories and many more. The startup belongs to the transaction category and their total funding has not yet been disclosed. They have currently raised capital through a Series A funding and the major investors of the startup are Beenos INC., SBI holdings, etc.
Haravan is a Vietnam based technology company. The startup provides assistance for providing foundation to businessmen which is the first service provided by a Vietnam company. The startup belongs to the infrastructure category and the total funding has not yet been disclosed. The startup has currently raised funding through a seed round and one of the major investors of the startup is Seedcom.
How many startups are there in Vietnam?
There were 123 startups in Vietnam in 2020 compared to just 44 in 2017.
Is Vietnam a good place to invest?
With its low labor costs and a stable yet growing economy, Vietnam is a more cost-effective alternative to China.
How many entrepreneurs are there in Vietnam?
There are approximately 5 million entrepreneurs in Vietnam.
We can see a lot more startups emerging in the country during the recent years that are concentrated more on technology and e-commerce solutions. The country has been driven by internet penetration, young demographics and smartphone adoption.