VinaCapital Ventures, the technology investment vehicle of VinaCapital Group, on Monday announced that it is investing US$1 million in Koina, a Viet Nam-based data-driven farm-to-business agriculture technology platform.

VinaCapital Ventures’ investment comes as part of a seed extension round of fundraising by Koina.

Koina Investment Group was founded in 2021 by a talented and accomplished team with experience in established startups.

Its vision is to build Viet Nam’s most extensive and efficient agri-ecosystem by working side-by-side with Vietnamese farmers and connecting them directly with financial institutions, input suppliers, and commercial retailers.

Koina’s “Farmer Platform” aims to help communities with financing, provide transparent and fair prices, and guide farmers on best agricultural practices. The goal is to grow, harvest and deliver fresh fruits and vegetables from farms to retailers with the highest quality at reasonable prices.

The demand for fresh fruits and vegetables is expected to stay strong in Viet Nam as the population continues to grow and increases in spending power. Higher urbanisation and a rising middle class are associated with increasing healthy food consumption and awareness in product origin.

Thi Nguyen, co-founder and chairman of Koina said: “We are excited to have VinaCapital Ventures’ backing, given their long track record of investing in startups and their extensive networks in Viet Nam and around the world. With the new investment, Koina will expand to more sale channels creating more volume to offtake from farms. We are also investing more on technologies to better manage quality and increase value-add for Viet Nam’s agriculture products.”

Trung Hoang, partner at VinaCapital Ventures, said: “Agriculture is the backbone of Viet Nam’s economy and society. Koina’s mission is to be the innovative hub of Viet Nam’s agriculture sector and with the Vietnamese government promoting green, environmentally friendly agriculture, we hope to play a part in not just improving the supply chain but also the lives of Viet Nam’s farmers.” — VNS