Business News 13/09/2023, 16:56

Three Vietnamese companies named to Forbes Asia 100 to Watch

Forbes has recently released its Forbes Asia 100 to Watch 2023 rankings, which includes three representatives from Vietnam.

Three Vietnamese companies named to Forbes Asia 100 to Watch

Forbes has just announced the Forbes Asia 100 to Watch 2023 rankings. Notably, Vietnam has 3 representatives participating, including:

Firstly, Coolmate, a business established in 2019 by CEO Pham Chi Nhu, operates in the e-commerce and retail sectors. The startup follows the Direct to Customers (D2C) model and focuses on offering a range of products to male customers, including T-shirts, shorts, long pants, and shaving cream. Coolmate plans to expand its product catalog to more than 180 items, primarily through its website and e-commerce platforms. Notable investors in Coolmate include 500 Global, Access Ventures, Cyberagent Capital, Do Ventures, DSG Consumer Partners, GSR Ventures, and Nexttech.

Secondly, Dat Bike, founded in 2019 by CEO Nguyen Ba Canh Son, specializes in electric vehicles. The company is based in Da Nang and manufactures electric motorcycles with components made in Vietnam. Dat Bike's latest model, the Weaver++, offers a range of up to 200 km on a 3-hour charge and is collaborating with GoTo (GoJek's parent company) for various service applications. Dat Bike has raised a total of $16.5 million in investment capital from investors such as Delivery Hero Ventures, GSR Ventures, Hustle Fund, ISeed Ventures, Jungle Ventures, TVS Motor, and Wavemaker Partners.

Lastly, KiotViet, founded in 2014 by CEO Tran Nguyen Hao, operates in consumer technology. Initially a subsidiary of Citigo Software, KiotViet later became an independent sales system for small businesses in Vietnam. KiotViet aims to offer a multi-service software solution to assist sellers in managing inventory, customer relationships, and employees. The company reports having more than 200,000 customers as of the end of 2022. Key investors in KiotViet include Baecon Venture Capital, Cao Viet My Investment Development Technology, Jet Tech Innovation Ventures, Jungle Ventures, Kite Asia Holdings, and KKR.

It's worth noting that the Forbes Asia 100 to Watch 2023 Ranking features businesses from 13 countries and territories in the region, with Singapore contributing the most representatives (20 businesses), followed by Hong Kong (15 businesses) and China (11 businesses). Most companies in the rankings are headquartered in the Asia-Pacific region, have reported revenue under $50 million in the most recent fiscal year, and have received total investment capital of less than $100 million as of August 7, 2023.

CafeF / Translator: Hoàng Trúc

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