VNG, Vietnam-based unicorn, has invested US$6 million in Got It - a digital gifting platform to help investee accelerate its artificial intelligence (Al) and person to person (P2P) gifting in Vietnam.
Vietnamese unicorn invests US$6 million in a digital gifting platform. Photo: Got It |
This is also the first investment of VNG in startups in 2021. As part of its goal of forming an ecosystem for domestic technology companies, Le Hong Minh, VNG’s CEO emphasized that it assists local startups to be Vietnamese strong companies.
“From mid-2020, we started promoting the strategy of finding domestic startups for long-term investment and companionship," he said.
Its latest investment was at the end of last year when VNG purchased 20% stake in Ecotruck Technology, a local startup. According to its financial statements, VNG also holds 22.7% of e-commerce site Tiki's capital and 49% of Thanh Son Media’s.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years