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

CHARITY / EXHIBITION / OTHER EVENTS

INVESTMENT OPPORTUNITIES IN CA MAU PROVINCE: 96 PROJECTS AND 20 STRATEGIC PROJECTS

We are pleased to share with you information on investment projects currently seeking investors in Ca Mau Province. Should your esteemed company or association be interested, we kindly invite you to review the project information and complete the registration form via the links provided. The Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) will consolidate the expressions of interest and facilitate connections with the leadership of Ca Mau Province at a meeting tentatively scheduled for 13 November 2026 in Ho Chi Minh City.

Oct 16, 2026

MEMBER CORNER / PROMOTIONS

BẰNG KIỀU LIVESHOW - A SYMPHONY OF LOVE UNDER THE GOLDEN GLOW

A masterclass in live music that takes the audience on a soulful journey through immortal love songs, guided by the peerless artistry and emotive storytelling of renowned singer Bằng Kiều. The highlight of the night is his seamless musical chemistry with special guest Triệu Hồng Ngọc, promising passionate and deeply resonant duets inside the magnificent Grand Ballroom.

Oct 16, 2026

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

ĐÀ NẴNG GREEN-LIGHTS US$105 MILLION THAI DEVELOPMENT DEAL

The central city has approved an investment proposal by Thailand’s WHA Group to develop infrastructure for the 400ha WHA Đà Nẵng Industrial Park project on two communes of Thăng Bình and Đồng Dương, with an investment of more than VNĐ2.7 trillion (US$105 million). The city said it approved WHA Industrial Development International's status as an investor in the project, which is expected to take place between 2027 and 2034.

Oct 14, 2026

VIETNAM ECONOMY INVESTMENT

MOBILE PHONE EXPORTS RISE 20% TO $51.8 BILLION IN FIRST NINE MONTHS

Exports of mobile phones and components rose 20 per cent year-on-year to nearly US$51.8 billion in the first nine months of 2026, with China, the US and Republic of Korea accounting for more than half of the total. Shipments to the three markets reached a combined $26.18 billion, or 50.6 per cent of total exports of the product group during the period, according to data from the Vietnam Department of Customs under the Ministry of Finance.

Oct 14, 2026

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

VIỆT NAM-CAMBODIA TRADE GATHERS PACE TOWARDS $20 BILLION TARGET

Trade between Việt Nam and Cambodia continues to grow, remaining a bright spot and a key pillar of bilateral cooperation as the two countries aim to raise two-way trade to US$20 billion in the coming years. After setting a record of more than $11.3 billion last year, bilateral trade reached about $8.7 billion in the first eight months of this year, up 8.3 per cent year on year.

Oct 14, 2026

VIETNAM ECONOMY INVESTMENT

FRUIT AND VEGETABLE EXPORTS POISED TO HIT $10 BILLION IN 2026

Fruit and vegetable exports are on track to reach nearly US$10 billion in 2026, after rising 19.9 per cent year on year to nearly US$7.4 billion in the first nine months, driven by strong seasonal demand and abundant tropical fruit supplies. The Ministry of Agriculture and Environment said the growth reflected stronger international demand for fresh produce and processed agricultural products.

Oct 14, 2026