VinaCapital Ventures, the US$100 million venture capital fund, part of VinaCapital, announced an investment round for social e-commerce platform Ecomobi on Wednesday.
It focused on tech start-ups in Viet Nam and Southeast Asia and has not yet announced terms of the investment.
Founded in 2016, Ecomobi partners with publishers and facilitates commerce via multiple social media platforms such as Facebook, YouTube, Zalo, and Instagram.
By using AI technology, Ecomobi helps brands and e-commerce websites connect with thousands of key opinion leaders (KOLs) and social traffic and sell products via reviews, promoted content, and product experience.
Its merchandise partners across Southeast Asia include Tokopedia, Shopee, Tiki, and Lazada and brands such as Sony, Samsung, Vascara, and Juno, to name a few.
Ecomobi has a strong presence in Indonesia, Viet Nam, Thailand, and Singapore.
In 2018, Ecomobi helped more than 100 brands and e-commerce sites sell over $100 million in merchandise value and services across 30,000 media channels. In 2019, the company is on track to double its performance from the previous year.
Khanh Tran, Partner at VinaCapital Ventures, said: “Ecomobi is the perfect example of how today’s Vietnamese entrepreneurs are building regional businesses from day one.
“Their first country was Indonesia, due to the enormous size of its e-commerce marketplace. They then applied their experience in that country to launch in Viet Nam.
“In just two years, the company is generating significant and increasing revenue not just from those two countries but from markets like Thailand and Singapore. We are excited to play a role in helping Ecomobi realise its potential.”
Truong Cong Thanh, CEO and Founder of Ecomobi, said: “We’re aiming to launch in Malaysia and the Philippines this year and next, and we look forward to expanding to other markets in the region and potentially beyond.”
Other investors in Ecomobi include GS Shop, Naver Group, and LINE Ventures, all based in Korea. — VNS