HA NOI (Biz Hub) — Lozi Joint Stock Company announced on December 4 that it is being jointly funded by Golden Gate Ventures Pvt. Ltd and DesignOne Japan Inc.
The details of the investment have not been disclosed, but it is a seven-figure amount, and raises the valuation of Lozi.
The investment will enable Lozi to boost its development by providing its customers with more values through its app and website.
Additionally, the investment would also facilitate Lozi into becoming the top food and beverage sharing mobile app for Vietnamese youth.
It also enables Lozi to develop their technology and expand into the Southeast Asia region, Tran Minh Son, co-founder of the company said.
The Golden Gate Ventures would also bring to Lozi their consulting experience for various start-ups in the region on strategies, technology and overall business development.
Lozi is a mobile application currently available in Viet Nam.
Their vision is to be a place for people to find good food, drink and caf places easily when needed.
As of November 2015, the number of registered users has increased to nearly 500,000.
Meanwhile, Golden Gate Ventures is an early-stage venture capital firm investing across Southeast Asia.
Since 2011, the firm has invested in over 25 companies across more than seven countries in Asia.
The firm invests in internet and mobile start-ups across many sectors, including e-commerce, payments, marketplaces mobile applications and software as a service (SaaS) platforms.
DesignOne Japan Inc. is a Japanese Internet media company, mainly engaged in the operation of local information through word-of-mouth site Ekiten.
The Ekiten site is a store reviews ranking site, on which users can know about well-established and popular stores in every region of Japan. — VNS