Vietnamese integrated agritech platform Techcoop has successfully closed a $70-million Series A funding round comprising equity and debt financing, according to an official announcement.
DealStreetAsia broke the news last year, reporting that this could be the largest Series A investment in a Southeast Asian agritech startup to date.
The equity round was co-led by existing investors TNB Aura and AVV, with participation from prominent new investors, including BlueOrchard, FMO, AppWorks, and Capria Ventures.
Techcoop is offering a B2B platform that provides end-to-end solutions tailored for export-oriented supply chains. The platform empowers 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 commercialising agricultural goods.
With a strategic focus on high-value crops like cashew nuts, coconut, coffee, fresh fruit, and vegetables, Techcoop champions sustainable farming practices while bolstering Vietnam’s food security.
The company intends to utilise the Series A funding to bolster its technological infrastructure and broaden its export capabilities. Equity financing will augment Techcoop’s capacity as a supply-chain integrator and direct exporter, enabling it to meet the increasing demands of international buyers.
Concurrently, debt financing will support the implementation of advanced risk management strategies and enhance corporate governance mechanisms, which are crucial for achieving efficient scalability in global markets.
“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.,” said Hao Diep, co-founder and CEO of Techcoop.
Since its inception 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 annualised revenue by the end of 2024, with projections reaching $250 million by 2025 and $400 million by 2026.
“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,” said Charles Wong, Managing Partner at TNB Aura.
Eddie Thai, General Partner at AVV, remarked that the substantial Series A financing for a Vietnamese startup reflects the confidence equity and debt investors have in the team and their efforts to promote sustainable growth in the sector.
Mahesh Joshi, Head of Private Equity Investments Asia at BlueOrchard, added that their investment will enable the company to broaden its outreach and develop climate insurance capacity to enhance the resilience of smallholder farmers in Vietnam.
In December 2024, enfarm, a Vietnamese agritech company that leverages AI and IoT to optimise crop nutrition, secured an undisclosed amount in seed funding led by Touchstone Partners with participation from Aiviet Venture and Conservation Vietnam.
Founded in 2023 by Nguyen Do Dung, an expert in urban planning and design, enfarm addresses a critical gap in traditional farming — most farmers grow crops based on experience without the support of data. Recognising this, Nguyen joined forces with Ho Long Phi, an expert in water resources and climate change, to establish enfarm.
