Techasia has unveiled a list of Southeast Asia start-ups raised funding in the past week. This ranking list included 40 companies, mostly based in Singapore and Taiwan, with notable numbers of capital from global corporations. Vietnamese tech startups show up in the ranking, welcoming start-ups expansion. Pushing the new funding aims to help these startups enhance the digital platform, attract talents, and expand to the globe.
Vietnamese start-ups take it place among ASEAN counterparts
In particular, Vietnam-based tech startup Society Pass (SoPa) has announced its successful acquisition #HOTTAB, a pioneering e-commerce and POS solution for Vietnamese merchants and consumers. This investment of SoPa still demonstrated to be remarkable for both local and foreign tech startup market.
SoPa is SEA’s leading universal data-driven loyalty program, connecting relevant merchants to engaged consumers. It empowers merchants by providing them with unprecedented control over how consumers engage with their brand and pay for their products. For consumers, SoPa utilizes purchase and behavioral data to deliver personalized deals customers actually want.
Dennis Nguyen, chairman and founder of SoPa, declares that the company has acquired POS solutions provider #HOTTAB for an undisclosed sum: “The acquisition expands SoPa’s footprint in Vietnam and augments its product offering for our Platform Partners, consumers, and merchants.”
As a result of the acquisition, SoPa and #HOTTAB’s merchant and consumer-facing apps have been rebranded as ‘#HOTTAB powered by SoPa’ which will be officially launched on December 20th, 2019. This launch of ‘#HOTTAB Powered by SoPa’ allows them to expand #HOTTAB’s existing F&B-focused merchant and customer base into retail and lifestyle verticals and beyond.
In a market saturated with numerous apps competing for their attention, consumers have grown numb to being bombarded with one-size-fits-all discounts, offers, and features. SoPa shows its advantages in Vietnamese tech start-ups with one straightforward app, accepted everywhere.
Vietnam attracts with its internal market… and also acts as investor
As mentioned in this article of Techasia, two ASEAN-based start-ups , Zenyum and ADBRO, have an intention to have a deeper penetration of Vietnam market with a recent influx of investment. The former has a plan to expand in Vietnam market, the latter is invested by 500 startup Vietnam.
Zenyum, a dental cosmetics startup founded in Singapore, raised $18.57m (US$13.6m) in its Series A funding round from RTP Global, Sequoia India, TNB Aura, Enterprise Singapore’s investment arm SEEDS Capital and other investors. Following the firm, Zenyum plans to use the fresh funds to fuel its expansion plans to markets like Vietnam, Indonesia, and Taiwan to power further market expansion. Moreover, this funding will be used to extend the current range of products beyond aligners and into retainers, teeth whitening and more – creating a new category, ‘Smile Cosmetics’ as well.
ADBRO, a Singapore-based adtech startup that specializes in in-image programmatic marketing for publishers and advertisers, announces that it has secured financing from 500 Startups (a venture capital firm on a mission to invest in promising Vietnam-connected startups). The scalable media platform serves computer vision-enhanced ads by placing them over contextually relevant images across major publishers in Vietnam, Malaysia, and Indonesia. In these markets, their next goal is to expand throughout the entire APAC. With a total of approximately US$100 billion in digital spend to be expected in these countries, Adbro estimates 70% to 80% of it will be spent on programmatic.
Besides, they will change the revenue model from direct deals between advertisers and publishers to programmatic guarantees advertisers that their ads are only linked to premium content while allowing publishers to generate more revenue, according to Artem Titov, ADBRO Co-founder, and CEO.
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