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Vina Capital Invests in an Agritech Platform Koina

Astute Analytica

Powered By Data | Guided By Intelligence

发布日期: 2023年2月8日

Koina was established by Khoa Luu and a group of former executives at Grab, VinID, and Giao Hang Nhanh in 2021. Vina Capital acquisition will be used to grow Koina's sales channels so that it can soak in large volumes from farmers, in addition to funding in Koina, a data-driven farm-to-business agri-tech platform in Vietnam, which Koina has as part of an increased US$1 Mn of its seed development round from Vina Capital, the technology acquisition automobile of Vina Capital Group. The new investment will be used to develop Koena's sales channels so that the startup can entice more farmers to fund the technology.?

Expansion of Koina’s Technology?

According to the Co-Founder and Chairman of Koina, with the new investment, they will expand to more sales channels creating more volume to offtake from farms. They are also investing more in technologies to manage quality better and increase value-add for Vietnam’s agriculture products. With the growth in adequate contact between farmers due to digitalization, the use of state-of-the-art technologies like cloud and IoT would promote farmers to embrace a progressive agricultural ecosystem. Astute Analytica estimates that the growth graph of the global agritech platform market will grow at a CAGR of 19.2% in the future, owing to these investments.?

Development of Agri-Ecosystem Environment?

The Vietnamese startup’s idea is to create an efficient agri-ecosystem by functioning closely with local farmers and linking them directly with input suppliers, financial institutions, and commercial retailers. Koina helps communities with fair and transparent pricing, financing, and directing farmers on best practices. Its objective is to produce, harvest, and deliver fresh products from farms to retailers with the best quality at affordable costs.?

Conclusion

Agriculture is the backbone of Vietnam's economy and society. Koina's mission is to become the innovation hub of Vietnam's agricultural industry and with the Vietnamese government promoting green, eco-friendly agriculture, they hope to play a role in not only improving the supply chain but also in the lives of their farmers, according to the partner at Vina Capital Ventures.?