Vietnam’s agriculture sector currently involves around 30% of the population, yet contributes only about 12% to the nation’s GDP. Seeking to bridge this gap and address inefficiencies hampering sector growth, Vietnamese agritech startup Techcoop has successfully closed a $70 million Series A funding round, comprising $28 million in equity and $42 million in debt financing.
This deal is considered one of the largest Series A investments in the agritech sector in Southeast Asia to date.
Notably, the round was co-led by TNB Aura (Singapore) and Ascend Vietnam Ventures (AVV). Earlier in March 2024, the same two funds had invested $5 million in Techcoop’s seed round.
The Series A also saw participation from major Vietnamese banks and international impact investment funds.
The new capital will enable Techcoop to accelerate growth, digitize agricultural supply chains, and expand export infrastructure.
According to the company, the funds will be used to upgrade its technology platform, optimize value chain integration, and enhance international market access. “With this funding, we will fast-track partnerships to support 2,000 small and medium-sized agricultural enterprises (SMEs), over 50,000 farmer clubs, and 10 million smallholder farmers within the supply chain, while also promoting sustainable agricultural practices,” said Ms. Diệp Thị Mỹ Hảo, Co-founder and CEO of Techcoop.
Techcoop is among the pioneering Vietnamese companies in digital agricultural innovation. The startup provides an end-to-end B2B platform, enabling SMEs and farmers to access technology, ensure product traceability, manage flexible financing, and expand into export markets.
The company focuses on assisting farming households cultivating high-value crops such as cashew nuts, coconuts, coffee, fruits, and fresh vegetables, contributing to food security and sustainable development.
Techcoop has already reached over 200,000 farmers and nearly 3,000 businesses and cooperatives across Vietnam. It also operates eight regional service centers in Ho Chi Minh City, An Giang, Bến Tre, Bình Thuận, Bình Phước, Đắk Lắk, Gia Lai, and Lâm Đồng to support local production networks.
Eddie Thai, investor at AVV, noted: “This is one of the largest Series A funding rounds ever for a Vietnamese startup, reflecting investors’ confidence in driving sustainable growth in Vietnam’s agritech sector.”
“We look forward to seeing Techcoop unlock greater value for farmers and agribusinesses across Vietnam and the broader region,” he added.
Meanwhile, Mr. Mahesh Joshi, Head of Private Equity Asia at BlueOrchard, emphasized: “Techcoop is one of the few integrated tech platforms serving both smallholder farmers and SMEs in Vietnam’s agricultural sector. It effectively addresses a major barrier: access to payment solutions throughout the agricultural value chain.”
He stated: “This investment will allow the company to scale operations and develop climate insurance solutions to support smallholder farmers.”
Since its founding in 2022, Techcoop has achieved profitability with a monthly growth rate of 10%. The company projects $250 million in revenue in 2025 and aims to reach $400 million by 2026.
Source: National Agency for Science and Technology Information and Statistics
