Vietnamese online baby product retailer Taembe secures $228K seed funding from Swiss investor

Taembe CTO and co-founder Jason Smith.

Taembe.com, a Vietnamese e-commerce startup dealing with goods for moms and babies, on Thursday announced that it has closed a VND5 billion ($228,000) seed funding round led by Swiss Founders Fund.

The fundraising is supported by Binh Tran, former co-founder of social marketing platform Klout, and Eddie Thai, a local startup advisor, together with an international syndicate of angel investors.

Tran and Thai have been recently chosen as the Vietnamese investment partners for the venture capital firm 500 Startups. Their association with Taembe, makes it a distinctly possible that the US-based VC might look at a future investment in the portal.

Meanwhile, Taembe.com CEO, Don Phan, did not comment on any possibilities of 500 Startups involvement in his company.

Prior to the seed round, the Vietnamese startup had secured investment from angel investors, Phan said, without giving additional details of the angel funding round.

“Swiss Founders Fund was the ideal choice for us because its partners know how to build sustainable businesses in Southeast Asia,” Phan commented.

“The investment highlights the growing attractiveness of Vietnam as a place to build tech businesses,” he said.

Vietnam has a young growing population that could touch 100 million people, with 1.5 million babies born every year. About 64 per cent of the population is under the age of 35.

According to a recent Nielsen report, Phan stated, more than a tenth of consumers in Vietnam have a baby below the age of one in their household, the highest level in the region and 100 per cent higher than the global average of five per cent. Another 19 per cent of local consumers have children aged one to two years old, in comparison to just nine per cent globally.

Taembe.com (“Ta em be” – Vietnamese for baby diapers) was initially launched as an e-commerce platform to sell diapers and other baby products, and has now diversified its services to include other bulky home consumables, such as detergents.

According to Phan, the business is fast approaching profitability and has seen revenue growth of 20 per cent month-over-month, this year.

“We’ve been following developments in Vietnam closely and we believe the baby market is a winner-take-most market. Taembe.com has the most traction and is the most likely to win the market,” said Patrick Degen, partner, Swiss Founders Fund.

This year, Taembe.com, along with shopping discovery app Wiindi, became the first Vietnamese startup to graduate from the JFDI‘s (Joyful Frog Digital Incubator) accelerator programme, following an investor demo day in July.

Taembe.com CEO, Don Phan, was previously the co-founder and managing director of Zalora Vietnam and Foodpanda Vietnam. Meanwhile, his co-founder, technologist Jason Smith, joined the startup following his exit of free hosting service IrisCouch last year, selling to New York-headquartered cloud platform Nodejitsu.

Also read:

Social shopping app Wiindi to focus on expansion in Vietnam

500 Startups strengthens South East Asia team with two new partners in Vietnam

Vietnam’s startup ecosystem attracting fresh VC interest

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.