VinaCapital Ventures, the technology investment vehicle of VinaCapital Group, announced last week that it is investing $1 million in Koina, a Vietnam-based data-driven Farm-to-Business (F2B) agriculture technology platform.

VinaCapital Ventures said in a statement that its investment comes as part of a seed extension round of fundraising by Koina.

“We are excited to have VinaCapital Ventures’ backing, given their long track record of investing in startups and their extensive networks in Vietnam and around the world,

“With the new investment, Koina will expand to more sale channels creating more volume to offtake from farms. We are also investing more on technologies to better manage quality and increase value-add for Vietnam’s agriculture products,” said Thi Nguyen, Co-Founder and Chief Executive Officer of Koina.

Koina Investment Group was founded in 2021 by a talented and accomplished team with experience in established startups.

Thi Nguyen was the Co-Founder and Chief Executive Officer of GiaoHangNhanh (GHN) and former founding member and COO of VinShop for One Mount Group; Khoa Luu was the former Chief Operating Officer of VinID and previously the Head of Regional Business Automation for Grab; and Phu Vo was the former Chief Growth Officer at One Mount Group and a Co-Founder of The Coffee House.

Other key executives of Koina also served in various leadership roles during their careers across a range of functions such as logistics, merger and acquisition, and agriculture.

Koina’s vision is to build Vietnam’s most extensive and efficient agri-ecosystem by working side-by-side with Vietnamese farmers and connecting them directly with financial institutions, input suppliers, and commercial retailers.

Koina’s “Farmer Platform” aims to help communities with financing, provide transparent and fair prices, and guide farmers on best agricultural practices. The goal is to grow, harvest and deliver fresh fruits and vegetables from farms to retailers with the highest quality at reasonable prices.

The demand for fresh fruits and vegetables is expected to stay strong in Vietnam as the population continues to grow and increases in spending power.

Higher urbanization and a rising middle class are associated with increasing healthy food consumption and awareness in product origin.

“Agriculture is the backbone of Vietnam’s economy and society. Koina’s mission is to be the innovative hub of Vietnam’s agriculture sector and with the Vietnamese government promoting green, environmentally friendly agriculture, we hope to play a part in not just improving the supply chain but also the lives of Vietnam’s farmers,” said Trung D. Hoang, Partner at VinaCapital Ventures.

Seeded by VinaCapital Group, VinaCapital Ventures is a Vietnam-focused venture capital platform focused on investing in and building world-class technology companies and incorporating them into a full digital ecosystem.

Its mission is to support entrepreneurs with big ideas and to help them build companies that make a significant impact on the lives of people in Vietnam and beyond.

The firm partners with entrepreneurs and empower them with capital, access to its extensive business network, and local know-how from its years of experience in Vietnam and Southeast Asia.

“We are pleased to join Koina on its journey to bring efficiency and transparency to Vietnam’s domestic agricultural supply chain,

“By leveraging the team’s prior success in logistics and data analytics, they have the potential to reduce wastage and damaged goods while increasing the overall productivity of Vietnamese farmers,” said Richard Han, Director at VinaCapital Ventures.

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