Miguel Cordon · · 2 min readNextGen, East Ventures back $1.3m seed round of VN sustainability firm
Equo, a Vietnam-based sustainability startup, has raised US$1.3 million in a seed round led by NextGen Ventures and participated by Techstars, East Ventures, and professional golfer Michelle Wie-West.
Equo founder and CEO Marina Tran-Vu / Photo credit: East Ventures
Founded in 2020, Equo provides plastics alternatives made from materials like coffee, coconut, and sugarcane. The company – which came in third during Tech in Asia’s Startup Arena Pitch Battle late last year – differentiates itself through its bright and distinct branding on items such as straws, utensils, bags, and food containers.
The company plans to use the new capital to further expand its product line, bolster its tech capabilities, and increase brand awareness in Canada, Vietnam, Singapore, and the US. It also looks to expand in recently entered markets like Europe, Japan, and Australia.
CEO Marina Tran-Vu started the business off with drinking straws made of grass, rice, coconut, sugarcane, and coffee. She brought with her over 13 years of experience at global FMCG companies such as Unilever, Bacardi, LG Electronics, and Spin Master.
See Also: These are the most active investors in Vietnam’s startups
The investment into Equo follows East Ventures elevating former Temasek executive Koh Wai Kit as its newest managing partner. He joined East Ventures as a venture partner in February 2021.
Angel investors that participated in Equo’s round include:
- Luke Vigeant, manager at Shed Capital
- Jeff Hohner, president of Tecumseh Capital
- Jack Tai, co-founder and CEO of OneClass
- Mark Groves, founder of Create The Love and co-founder of Mine’d
- Dimple Mukherjee
Editing by Lorenzo Kyle Subido
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