The 4th quarter 2022 overview of Vietnam’s technology news headlines, gathered in October, November and December of 2022 and also covering the Vietnamese startup and VC ecosystems.
Vietnam’s technology news in Q4 2022 reported on items including venture capital developments for the country, Google’s digital wallet launch in Vietnam, tightening government restrictions on social media commentary, online secondhand fashion, and more. Hit the headlines below to read each article in full.
- Vietnam: An overview of the recent Techfest Vietnam 2022 event, and FundGo Startup and Investment Fund’s activities through the year
- “Venture capital firms have committed to invest $1.5 billion in Vietnam over the course of the next three years, the organisers of the Vietnam Venture Summit 2022 announced…”
“This combined commitment represents a major increase from 2020 when 33 participating VCs committed over $815 million for the 2021-2025 period. At the inaugural event of the Vietnam Venture Summit in 2019, investors committed $425 million to support Vietnamese startups between 2019 and 2021.”
- Vietnam: Quqo B2B distribution platform secures $1M seed funding, connecting buyers, suppliers, and end-consumers in the FMCG sector, digitizing to streamline supply chains
- “Vietnam’s startup market is set to receive investment capital worth US$5 billion during the 2023-2025 period.”
- Vietnam: University of Economics HCM City’s Institute of Innovation incubator takes Alibaba Cloud award in Southeast Asia
- Vietnam: Google launches digital wallet in Vietnam, allowing Android users to add Visa credit and debit cards to their phones for payment, replacing physical cards
- Vietnam: “By 2024, the fintech market in Vietnam is expected to grow to USD $18BN…”
“Transaction volume demonstrated a 152.8% growth since 2016, with 29.5 million of new FinTech users. As a result, every second Vietnamese uses at least one FinTech service. The demand for digital services (transactions, payments and wallets) among the Vietnamese population is remarkable.”
- Vietnam: Rootopia secures $1M to connect students seeking education loans for tuition fees with angel investors in Vietnam
- “A recent analysis performed by Deloitte estimated that the potential 2035 economic impact of the metaverse in Vietnam is [likely to be] $9-17 billion per year…”
“Vietnam also topped the 2021 Chainalysis Global Crypto Adoption Index, signalling the broad social acceptance of cryptocurrencies. The Vietnamese government is putting guardrails in place for the digital age, including a flurry of regulatory reviews of digital-related laws in the next 1-2 years.”
- Vietnam: ThinkZone VC firm launches Global Minds Accelerator program, aiming to back 5-7 early-stage market-ready startups per batch
- Vietnam: Dat Bike electric motorbike startup raises $8M, looking at Tier 1 city growth and production facility expansion
- Vietnam: Metastrike blockchain-based role-playing gaming startup raises $3.3M, with game featuring tradeable NFTs and play-to-earn components
- Vietnam: Gov’t reportedly preparing new rules to limit which accounts can post news-related content to social media as authorities tighten control over information sources in the country
- Vietnam: Marathon Education raises 7-figure seed capital with live, interactive classes in large or small formats for K-12 students
- Vietnam: 50 startups selected for inaugural Google for Startups Startup Academy-Vietnam, a training and mentorship program for early-stage startup founders
- Vietnam: Piktina raises $1M with online marketplace for secondhand fashion
- Vietnam: Fundiin buy-now-pay-later startup gains $5M Series A funding with more than 300 partners and exposure at 4000 retail outlets country-wide
- South Korean VC firm Nextrans to launch new $50M Vietnam-focused fund to target the country’s tech startup ecosystem, looking at investments up to $3M in value
For a look at issues, developments and risks in Asia, technology and beyond in a larger context, you should read the less-regular but thought-provoking Need To Know Now newsletter.