Vietnamese service platform JupViec raises funding from venture builder STI

Vietnamese venture builder Simple Tech Investment (STI) said it has completed a strategic investment in local household service platform JupViec. It is now the startup’s largest institutional shareholder post-transaction, according to a statement.

The size of the investment was not disclosed, but STI’s chief investment officer, Tai Tran, told Tech in Asia that it amounts to “several millions” of US dollars.

Photo credit: JupViec

Founded in 2012, JupViec connects gig workers and households to address helper shortage and unemployment in Vietnam. It had previously raised seed funding from Japan’s CyberAgent Ventures.

The startup plans to use the new funds to support staff training and improve service quality. Tran said that JupViec also intends to enhance its app’s experience and expand its offering to cover other complex tasks such as cooking, ironing, virus disinfection, household sanitation, electronics maintenance, and butler services.

For the helpers on its platform, the company looks to provide more jobs and benefits, increase the frequency of professional training, and ensure their capacity to earn a substantial income through the platform.

JupViec joins STI’s portfolio of companies, which includes advertising company 24h Media Group, used car trading enterprise Anycar, 30Shine, and Sieu Viet Group. It will be integrated with STI’s ecosystem, which brings online-to-offline offerings to customers.

STI said it has invested in over 20 startups across Southeast Asia, most of which are based in Vietnam.