Koina, a data-driven farm-to-business agritech platform in Vietnam, has raised US$1 million as part of its seed extension round from VinaCapital, the technology investment vehicle of VinaCapital Group.
The new funding will be used to expand Koina’s sales channels so that the startup can absorb more volume from farmers, in addition to investing in technologies.
Thi Nguyen, Co-Founder and Chairman of Koina, said: “With the new investment, Koina will expand to more sales channels creating more volume to offtake from farms. We are also investing more in technologies to manage quality better and increase value-add for Vietnam’s agriculture products.”
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Koina was founded in 2021 by Khoa Luu and a group of former executives at Grab, VinID, and GiaoHangNhanh.
The Vietnamese startup’s vision is to build an efficient agri-ecosystem by working closely with local farmers and connecting them directly with financial institutions, input suppliers, and commercial retailers.
Koina helps communities with financing, providing fair and transparent pricing, and guiding farmers on best practices. Its goal is to grow, harvest and deliver fresh produce from farms to retailers with the highest quality at reasonable prices.
Trung D. Hoang, Partner at VinaCapital Ventures noted: “Agriculture is the backbone of Vietnam’s economy and society. Koina’s mission is to be the innovative hub of Vietnam’s agriculture sector and with the Vietnamese government promoting green, environmentally friendly agriculture, we hope to play a part in not just improving the supply chain but also the lives of Vietnam’s farmers.”
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