The most notable tech startups in Vietnam in 2017

Many technology startups that called for capital in 2016 are expected to be even more successful in 2017.

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In 2015, Vietnamese startups had 67 successful capital call founds, an increase of 130% compared to 2014. There has been no official figure about 2016, but analysts believe the upward would continue. 

According to Deal Street Asia, there were more than 30 merger & acquisition (M&A) successful deals in 2016, more than the 22 deals in 2015. A series of projects won high prizes at domestic and international competitions.

DesignBold is a tool described as ‘Photoshop’ for amateur designers. Launched on the market in October 2016, the startup caught the attention of many people, similar to the success of Nguyen Ha Dong’s Flappy Bird game in 2014.

Targeting the global market, DesignBold had profit of US$130,000 in the first two weeks after it was marketed. About 40,000 customers were reported using the tool while 52% of customers return.

The founder of the project is Dinh Viet Hung, well known as the founder of Joomlart and the angel investor for some startups in Vietnam. 

DesignBold won the startup prize of the year at the Startup Festival 2016.

GotIt is an education startup established in the US which successfully called for US$9 million worth of capital in series A in April 2016. However, the founder and the developers are all in Vietnam.

Though GotIt does not operate in Vietnam, Deal Street Asia said the founder of GotIt has carried out activities to support other Vietnamese startups.

Operating similarly to Classpass or Kfit, which connects fitness centers and those who work out, WeFit is the first startup of its kind in the US$60 million Vietnamese market.

The founder of WeFit believes that the startup can obtain 20% growth rate per annum. WeFit is believed to target beginners willing to pay high fees for physical training.

WeFit now has 500 customers who pay fees and 150 units which are partners in Hanoi. The service is expected to be developed in HCMC in the time to come.

Giaohangnhanh is a fast delivery chain established in 2012 with investment from Seedcom. This is also the investor who poured money Tiki, Haravan, Pizza 4P’s and The Coffee House.

Giaohangnhanh is the online delivery service with the highest number of users in Vietnam. 

A high growth rate has been predicted for giaohangnhanh because delivery is a fast growing sector still taking shape in Vietnam. 

The ecosystem for e-commerce in the country still lacks chains, including online payments and customer confidence. However, e-commerce’s prospects are bright thanks to people’s improved incomes.

Vietnamnet

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