Vietnam: ESP Capital leads $500k investment in local food recipe portal Cooky

Cooky, the Vietnamese food recipe portal, said it has raised $500,000 in a funding round led by existing backer ESP Capital.

Local venture firm Founders Capital and undisclosed angel investors also participated in the financing round, the company added.

The portal, founded in 2015, had received seed financing from Vietnamese homegrown VC firm ESP Capital in 2017.

“The latest investment will be used to enhance our offers, enlarge the user base and expand our operations,” said Vuong Nguyen, founder of Cooky.

The company said it has over 3 million visits per month, as well as 40,000 recipes on its online platform and more than 200 offline cooking tutorial sessions.

Cooky said it was targeting ‘the millennials’, who account for 33 per cent of Vietnam’s 100 million population, and were more inclined towards the do-it-yourself and online sharing lifestyles.

“The Cooky platform has grown rapidly as our expectation. We decided to invest in the company’s second round to support its growth in the coming time,” said Vy Le, CEO of ESP Capital.

Cooky further said that it plans to deepen its brand name through a series of initiatives, including organising more tutorial sessions, connecting users with celebrities and chefs and increasing online interaction between users.

ESP Capital, established in 2017, has $20 million in kitty to invest in Vietnamese early-stage startups. The firm is also targeting opportunities across Southeast Asia. It has funded 10 companies, including eight Vietnamese startups and two Singapore-based startups.

Founders Capital is domiciled in Singapore and has an office in Hanoi. It has backed Vietnamese startups including Netlink, Zmedia, Thethao247, Metub Network, Luxstay and Viralworks.

Also Read:

Vietnamese homegrown VC ESP Capital to hike its early-stage funding ticket size

Homegrown VC firm Startup Viet Partners launches $5m debut fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.