TECHCOOP, which is Vietnam’s integrated agritech platform, announced it has closed a $70 million Series A funding round, comprising equity and debt funding. This funding round was co-led by Southeast Asia-focused venture capital firms TNB Aura and AVV, with new equity investors Capria Ventures, AppWorks, FMO (Dutch entrepreneurial development bank), and BlueOrchard (an impact investment manager under Schroders Group) joining. And debt financing was supported by major Vietnamese banks and international debt funds.
The equity funding round was co-led by existing investors TNB Aura and AVV, with participation from prominent new investors, including BlueOrchard, FMO, AppWorks, and Capria Ventures. And this funding positions TECHCOOP to accelerate its growth trajectory and digitize Vietnam’s agricultural value chains.
TECHCOOP is at the forefront of digital innovation in agriculture, providing a B2B platform that provides end-to-end solutions tailored for export-oriented supply chains. The platform enables agri-MSMEs and farmer clubs—critical stakeholders in Vietnam’s agriculture sector—through comprehensive services such as technology enablement, product traceability, flexible payment terms, and enhanced market access for commercializing agricultural goods.
Focusing on high-value crops like cashew nuts, coconut, coffee, and fresh fruits and vegetables, TECHCOOP champions sustainable farming practices while bolstering Vietnam’s food security.
The company plans to use Series A funding to strengthen its technology stack and expand its export infrastructure. And equity funding will enhance TECHCOOP’s supply chain integrator and direct exporter capacity, addressing the demands of global buyers. Meanwhile, debt financing will underpin advanced risk control measures and corporate governance, essential for scaling efficiently in international markets.
Since launching in late 2022, TECHCOOP has achieved profitability while sustaining a remarkable 10% month-on-month growth rate. The company is on track to achieve $130 million in annual revenue by the end of 2024, with projections reaching $250 million by 2025 and $400 million by 2026.
KEY QUOTES:
“This significant investment underscores the transformative potential of technology in enhancing the agricultural sector. With this funding, we will expedite our mission to empower 2,000 agri-SMEs, 50,000+ farmer clubs, and 10 million smallholder farmers within the supply chain while promoting sustainable agricultural practices. We are enthusiastic about utilising these resources to expand our platform and strengthen partnerships to become a leading agritech company in Southeast Asia.”
– Hao Diep, Co-founder and CEO of TECHCOOP
“We are putting more focus on innovation and digital technology. We aim to create a strong tech platform connecting Agri-MSMEs and farmers’ clubs, including smallholder farmers, to global supply chains. We will also invest in better tools and systems to make servicing easier for our partners,”
– Tuan Nguyen, Co-founder and CTO of TECHCOOP
“We have been consistently impressed with TECHCOOP’s innovative approach to empowering stakeholders across Vietnam’s agricultural value chain. This landmark Series A brings together a unique and synergistic combination of equity funds and debt providers, which we believe puts TECHCOOP in pole position to further accelerate growth. TNB Aura is proud to support TechCoop in this journey and contribute to revolutionising SEA’s agricultural sector, starting with Vietnam.”
– Charles Wong, Managing Partner at TNB Aura
“This is one of the largest-ever Series A financing of a Vietnamese startup, and it reflects the confidence equity and debt investors have in the team and their work to drive sustainable growth in the sector. We are glad to offer continued support and look forward to seeing TECHCOOP enable even more farmers and agri-businesses to unlock value in the agricultural ecosystem in Vietnam and the region.”
– Eddie Thai, General Partner at AVV
“TECHCOOP is one of the few integrated tech platforms serving farmers and agri-SMEs in Vietnam, addressing the major constraint of access to payment terms across the agri value chain. Our investment will enable the company to broaden its outreach and develop climate insurance capacity to enhance the resilience of smallholder farmers in Vietnam.”
– Mahesh Joshi, Head of Private Equity Investments Asia at BlueOrchard
