GoStream, a Vietnamese live streaming platform, announced that VinaCapital Ventures has invested a “seven-digit figure” into the company.
The fresh funds will be used to bankroll GoStream’s business expansion.
Founded in 2017, GoStream is a multi-platform live streaming broadcaster for social sellers, marketers and content creators. It claims it provides an “interactive experience” that encourages viewer participation in live videos, enabling users to reach a larger audience to increase visibility and get more views.
The startup shared in a press note that it facilitates over 100,000 live streaming sessions daily and serves multiple corporate clients.
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“GoStream’s innovative streaming technology is helping more businesses reach more viewers and customers, and we look forward to working with them as they further expand their capabilities and play an even greater role in Vietnam’s growing digitalisation,” said Trung D. Hoang, Partner at VinaCapital Ventures.
According to a Statista report, revenue in the video-streaming segment in Vietnam is poised to reach US$162 million in 2021.
VinaCapital Ventures was launched in 2018 as part of VinaCapital, a Vietnamese asset management firm with over US$3 billion in assets under management. It seeks to invest in Vietnamese and Southeast Asian tech startups.
Earlier in December 2020, VinaCapital Ventures was among the investors of a 7-figure pre-Series A round into proptech startup Homebase.
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