Want to be in the loop?
subscribe to
our notification
Business News
VIETNAMESE STARTUPS BAG $35.7 MILLION IN FIRST QUARTER OF 2024
Vietnam's tech ecosystem received total funding of $35.7 million in the first quarter of 2024, according to a report released by Tracxn Technologies on April 2. The Q1/2024 funding of $35.7 million was a 39 per cent drop from the $58.6 million raised in the same period in 2023, but a 467 per cent increase compared to the $6.3 million raised in Q4/2023.
Vietnam ranked third in terms of funding raised by Southeast Asian countries in Q1/2024 after Singapore and Indonesia, while it was fourth in Q4/2023.
Early-stage funding in Q1/2024 stood at $31.2 million, while Q4/2023 did not witness any funding rounds at that stage. However, this was a 47 per cent drop from the $58.6 million raised in the same period last year.
In Q1, total funding of $4.5 million was received in the seed stage, while Q1/2023 did not witness any notable funding. However, this was a 29 per cent drop compared to the $6.3 million raised in Q4/2023.
Trancx noted that this space had not witnessed any late-stage funding in the last three quarters.
Be Group, an app-based aggregator that offers booking services for motorbikes, cars, air tickets, and fast deliveries raised $31.2 million in a series b round, making it the highest funding round so far in 2024.
Autotech, edtech, and enterprise applications were the top-performers based on funding in the Vietnamese tech sector. While Q4/2023 did not witness any notable funding in the autotech and edtech sectors, Q1/2024 witnessed $31.2 million and $2.5 million respectively.
Inversely, the real estate and construction tech and retail sectors did not attract any funding in Q1/2024. Funding into enterprise applications dropped from $4 million in Q4/2023 to $1.5 million in Q1/2024.
Vietnam's tech space saw no Unicorn or IPOs in Q1, which was the same scenario to Q1 and Q4 in 2023.
CyberAgent Capital, Nextrans, and Vietnam Silicon Valley were the overall top investors in this space, while Northstar Ventures, Monk's Hill Ventures, and R2 Venture Partners were the top seed investors Q1/2024.
Source: VIR
Related News
BANKING / FINANCE / INSURANCE / TAX
REMITTANCES TO HCM CITY RISE NEARLY 40% IN Q3
Remittances to HCM City reached more than US$2.83 billion in the third quarter of this year, up 39.5 per cent from the previous quarter and 3.6 per cent year-on-year. This was the first quarter showing positive annual growth this year, helping narrow the decline in remittance inflows over the first nine months. According to the State Bank of Vietnam (SBV)’s Regional Branch 2, remittances transferred to HCM City through credit institutions and economic organisations totalled $2.835 billion in Q3, an increase of more than $802 million from the previous quarter.
TECHNOLOGY
TECH SECTOR GROWTH OPENS UP OPPORTUNITIES FOR VIỆT NAM TO GO GLOBAL
The growth of the electronics, semiconductor and high-tech sectors worldwide is opening up a variety of opportunities for Vietnamese enterprises to integrate more deeply into the global supply chain. However, to become suppliers for these corporations, domestic enterprises must meet rigorous standards regarding quality, technology, productivity and order fulfilment capabilities.
VIETNAM ECONOMY INVESTMENT
FOREIGN INVESTORS SEEKING A SYNCHRONISED MANUFACTURING ECOSYSTEM
Instead of focusing only on land costs and incentives as usual, foreign investors are seeking a synchronised manufacturing ecosystem, from stable power supply and logistics to shared infrastructure and the convenience of completing residence procedures for experts to serve their long-term investment in the country.
MEMBER CORNER / PROMOTIONS
SENTRYSAFE FHW40200 – PROTECT YOUR VALUABLES, ENJOY PEACE OF MIND!
Looking for a reliable solution to protect your important documents, cash, and valuables from fire and water damage? Genuine SENTRYSAFE - Reliable protection for your valuables and peace of mind! Contact Sen Wai Vietnam for more information and personalized product recommendations.
PROPERTY / INDUSTRIAL ZONE
HCM CITY ATTRACTS US$5.7 BILLION INTO EXPORT PROCESSING AND INDUSTRIAL ZONES
HCM City attracted US$5.7 billion in domestic and foreign investment into its export processing and industrial zones during the first nine months of 2026. The figure exceeded the city's full-year target by 31 per cent, highlighting strong momentum in high-quality industrial investment under Resolution No.10-NQ/TW. Total investment reached 131 per cent of the 2026 target of $4.25 billion and represented a 29 per cent increase compared with the same period in 2025, according to the city's Export Processing and Industrial Zones Authority (HEPZA).
INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT
DONG THAP PROVINCE STEPS UP INDUSTRIAL EXPANSION AND INFRASTRUCTURE CONNECTIVITY
Accelerating public investment, strengthening inter-regional connectivity, and expanding industrial land are helping Dong Thap efficiently bolster competitiveness and drive economic growth. Following the 2025 merger of the former Dong Thap and Tien Giang provinces, the expanded Dong Thap province in the Mekong Delta faces mounting pressure to accelerate infrastructure development and strengthen connectivity among local economic zones, urban areas, industrial parks (IPs), and production centres.
Events Sponsors
