Vietnamese livestreaming firm GoStream banks $1m from VinaCapital Ventures

Vietnam-based live video-streaming platform GoStream announced that VinaCapital Ventures has invested US$1 million in the company.

The GoStream team/ Photo credit: GoStream

Launched in 2017, GoStream is a multi-platform livestream broadcaster for social sellers, marketers, and content creators. It enables users to reach a larger audience from different platforms to increase visibility and get more views.

Funds raised from the financing round will be used to expand the company’s business. Currently, the platform claims to facilitate over 100,000 livestreaming sessions daily and also serve corporate clients.

“We look forward to working with GoStream as they further expand their capabilities and play an even greater role in Vietnam’s growing digitization,” said Trung D. Hoang, a partner at VinaCapital Ventures.

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VinaCapital Ventures, an asset management company with over US$3 billion in assets under management, will invest further in Vietnam’s digital economy, which is expected to grow to US$52 billion by 2025.

Revenue in the video-streaming segment in Vietnam is poised to reach US$162 million in 2021, according to data by Statista.

Earlier in 2020, VinaCapital Ventures had also backed Vietnam-based facial recognition firm Wee Digital and Homebase, a proptech startup.