In 2024, Vietnamese tech startups faced a substantial funding drop, raising $120 million—a 38% decrease from $196 million in 2023 and a staggering 77% decline from $518 million in 2022. This decline reflects broader global economic uncertainties that have dampened investment activity across sectors.
Funding Trends Across Stages
- Seed-Stage Funding: Dropped by 32.37% to $11.7 million in 2024 from $17.3 million in 2023.
- Early-Stage Investments: Declined by 47.26%, with $94.4 million raised compared to $179 million in the previous year.
- Late-Stage Funding: Re-emerged with $14.2 million in 2024 after two years of inactivity in this category.
Sector Bright Spots
Despite the overall decline, some sectors saw remarkable growth:
- Gig Economy: Soared to $38.2 million in 2024, a sharp rise from $1 million in 2023.
- Auto Tech: Reached $35.3 million in funding, compared to $3 million in the previous year.
- Transportation and Logistics Technology: Witnessed significant growth, securing $34.3 million, up from $3 million in 2023.
Regional Insights
- Ho Chi Minh City: Secured the lion’s share of funding, representing 56.59% of total investments.
- Hanoi: Accounted for 26.25%, showcasing its prominence in Vietnam’s tech ecosystem.
Key Observations
- No funding rounds exceeded $100 million in 2024 or 2023.
- No Vietnamese startups went public, nor were new unicorns created during the year.
- Active Investors: CyberAgent Capital, 500 Global, and Genesia Ventures were among the most active in supporting Vietnamese startups.
- Mergers and Acquisitions: Three notable acquisitions occurred in 2024, including NVIDIA’s acquisition of VinBrain and Public Bank’s $15.2 million purchase of RHB Vietnam Securities.
Looking Ahead
The funding slowdown highlights the challenges Vietnamese tech startups face amid global economic pressures. However, the surge in specific sectors like the gig economy and logistics technology offers a glimpse of resilience and opportunity. Continued investor interest in these areas signals potential for recovery and growth in Vietnam’s tech landscape.
Stay updated with The Logistic News for more insights into the evolving tech and logistics ecosystem.
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