Thu Huong Le · · 1 min readKoina, farming startup of notable Vietnam tech alums, raises $1m
The leadership team of Koina/ Photo credit: Koina
Khoa Luu, co-founder and COO of Koina, describes Vietnam’s domestic supply chain for agriculture as “forgotten.”
In a previous interview with Tech in Asia, Luu said most companies want to export farm products overseas, especially via cross-border channels to China. However, this is extremely risky, which became evident when the Covid-19 pandemic broke out.
In 2021, Luu and a group of former executives at notable tech companies like Grab, VinID, and SCommerce established Koina. The startup has just gotten US$1 million in funding from Vina Capital Ventures, the technology investment vehicle of VinaCapital Group.
Koina wants to build a tech-enabled agricultural ecosystem in Vietnam, similar to DeHaat’s full-stack model in India.
This means connecting farmers directly with retailers, financial institutions, and input suppliers. At the same time, consumers and domestic businesses can have direct access to farmers’ products.
In a statement, Thi Nguyen, co-founder and chairman of Koina, said the new funding will be used to expand its sales channels so that the startup can absorb more volume from farmers, in addition to investing in technologies.
Koina’s most reacent fundraise was an undisclosed round from Singapore’s Glife Technologies.
See also: The challenge and hidden potential of Vietnam’s agritech sector
Editing by Eileen C. Ang
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