Vietnamese farm-to-business AgriTech platform, Koina, announced its recent seed funding round, raising US$1 million in capital from SEA’s leading VC, VinaCapital Ventures.
As industrial innovation grows in Vietnam, its agriculture sector faces greater challenges, from plunging productivity to rising costs. Tackling these issues is homegrown AgriTech startup Koina, which was founded with the aim to build a thriving agricultural ecosystem in the country, facilitating connectivity and accessibility between farmers, suppliers, and retailers, along with other financial organisations in the sector.
VinaCapital Ventures, Vietnam’s leading investment firm, disclosed its latest investment of US$1 million into Koina’s recent seed fundraising round, displaying their enthusiasm for the future growth and potential of the company.
The Director of VinaCapital Ventures, Trung Hoang, described the agriculture ecosystem as vital to the growth of Vietnam’s economy and hopes for the recent investment to build on that, while optimising the country’s supply chains, along with enriching local farmers’ quality of life.
“We are confident that Koina’s innovative approach to tackling the challenges facing the agriculture industry will lead to significant improvements for farmers in Vietnam. By providing them with the support they need to succeed, we hope to create a more sustainable and profitable agricultural sector in the country,” Trung added.
The primary focus of the “farmer platform” is to enable local agriculturalists’ day-to-day operations. Additionally, the startup allows local producers to access loans more easily, while selling their yields and receiving support for profitable agricultural practices.
Newly established in 2021, Koina was the invention of former tech executives, Khoa Luu, Thi Nguyen, and Phu Vo, who have brought together their collective expertise to sustain the growth and development of the local agri-food ecosystem. On a mission to improve income streams for farmers across the nation while streamlining the supply chain and output of agriculture products, the founders hope to boost the evolution of sustainable farmland in Vietnam.
The funds received will allow Koina to expand its sales channels, and accelerate investments into and development of their technology. Besides that, the capital will also be utilised to expand the startup’s reach to a wider audience within the local agricultural field, allowing them to facilitate connectivity and access to the necessary resources and support. Koina aims to implement the funds in optimising their overall platform by integrating advanced technologies, including data analysis and logistics, to further build sustainability and increase farmers’ productivity.
Featured Banner Image: koina.vn
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