E-commerce firm Sendo will cease operations of its online grocery platform Sendo Farm on July 10, while the Net Zero Challenge 2026 is now open for applications.
Vietnam’s Sendo to shut down online grocery platform Sendo Farm
Vietnamese e-commerce firm Sendo will cease operations of its online grocery platform Sendo Farm on July 10 as it restructures its business.
In a notice to customers and suppliers dated June 30, CEO Tran Hai Linh said the move is part of efforts to optimise resources, improve competitiveness, and streamline the company’s business portfolio.
Sendo Farm will continue operating until July 9, offering promotional campaigns before shutting down. Customers with unused membership packages and wallet balances will be eligible for refunds.
Sendo earlier abandoned its multi-category e-commerce marketplace to focus entirely on Sendo Farm. In April 2025, the company exited Vietnam’s fiercely competitive e-commerce market after its market share slipped below 1%, leaving rivals Shopee, TikTok Shop, and Lazada to dominate the sector.
Sendo Farm, launched in late 2021, sought to tap Vietnam’s growing online grocery market but faced intense competition from omnichannel retailers such as Bach Hoa Xanh and WinMart, alongside on-demand delivery platforms including GrabFood, ShopeeFood, and beFood. The business also contended with traditional wet markets, neighbourhood grocery stores and social commerce channels that remain popular among Vietnamese consumers.
Founded by FPT Corporation, Sendo was once among Vietnam’s best-funded local e-commerce startups. The company raised $61 million in a Series C round in 2019 from investors including SBI Holdings, Beenos, SoftBank Ventures Asia, Daiwa PI Partners, Digital Garage, EV Growth, and Kasikornbank, after securing $51 million in Series B financing in 2018.
Net Zero Challenge 2026 now open for applications
Touchstone Partners and Temasek Foundation have opened applications for the fourth edition of the Net Zero Challenge (N0C), Vietnam’s largest climate technology innovation competition, with total prizes exceeding 21 billion dong ($800,000).
A key addition this year is the participation of the Vietnam International Financial Centre in Ho Chi Minh City (VIFC-HCMC), following a strategic partnership signed with Touchstone Partners and Temasek Foundation to mobilise international capital and expertise for climate innovation and sustainable development.
Of the total prize pool, 15 billion dong is non-equity catalytic funding—meaning winning teams receive grants without giving up any ownership stake—awarded to the three top teams; and over 6 billion dong comprises investment prizes and additional support from partner venture funds and enterprises.
The finalist teams will also gain access to structured piloting opportunities through N0C’s network of corporate and government partners across industrial zones, urban infrastructure, agricultural value chains, and financial institutions.
The organisers are inviting applications from startups, research teams, corporate ventures and non-profit organisations with minimum viable products (MVPs) and commercialisation plans. International startups seeking to enter Vietnam are also encouraged to participate.
The programme comes as Vietnam steps up efforts to build its climate technology ecosystem and attract green investment. Organisers said the VIFC-HCMC’s regulatory sandbox and capital market ambitions could help position Vietnam as a regional testing ground for climate technologies in Southeast Asia.
