Vietnam Digest: Insignia Ventures backs Edmicro; VSV invests in LOOP Smart Pos

Photo by Štefan Štefančík on Unsplash

Hanoi-based edtech startup Edmicro has raised an undisclosed amount in a pre-series A funding round led by Insignia Ventures Partners while technology startup LOOP Smart Pos raised money from Vietnam Silicon Valley.

Edmicro raises pre-Series A from Insignia Ventures

Hanoi-based edtech startup Edmicro has raised an undisclosed amount in a pre-Series A funding round led by Insignia Ventures Partners, its CEO Que Nguyen confirmed to us.

The startup will use the funds to strengthen the capabilities of its platform, grow its user base in Vietnam, and expand into other markets in Southeast Asia by 2021.

Founded in 2018, Edmicro is a smart self-learning platform catering to Vietnamese students. The company is building a learning ecosystem called Onluyen.vn that adapts to the needs of every learner. Edmicro claims that Onluyen.vn has helped more than 30,000 students practice and master what they’re learning each month.

In July, DealStreetAsia reported that Insignia Ventures Partners is raising a $150-million second fund focused on Southeast Asia.

The firm is learnt to have roped in Pavilion Capital, a subsidiary of Singapore’s state investor Temasek Holdings, as the anchor investor for its latest fund.

Earlier, the Singapore-based venture capital firm said it would be investing at least $50,000 in each graduated startup from Vietnam’s Topica Founder Institute (TFI) accelerator programme.

Insignia has invested in Logivan, an alumnus of TFI. Its other portfolio company from Vietnam is real estate portal Propzy.

Vietnam Silicon Valley invests in LOOP Smart Pos 

Vietnamese government-backed accelerator Vietnam Silicon Valley (VSV) has invested an undisclosed sum in LOOP Smart Pos, a customer care and management platform for F&B and retail stores, according to an announcement.

LOOP was founded by Alvin Koh, who is eFounder of Alibaba and a member of TRIVE Ventures.

Unlike regular POS, LOOP Smart Pos allows the store to create customer experience with functions such as collecting and analyzing customer data, accumulating points to exchange gifts automatically via Facebook messenger and setting up electronic promotions.

In Vietnam, there are more than 1,000,000 small and medium-sized F&B and retail stores, of which only about 10 per cent are using technology, LOOP said in the announcement.

The goal of the company is to develop in the Vietnamese market first and then expand the market to other Southeast Asian countries.