EMDDI, a company that provides a ride-hailing management platform for taxi companies in Vietnam, has raised funding led by ThinkZone Ventures, with participation from several unnamed local investors.
Other details of the deal were not disclosed. As per a press statement, the round was closed in July 2020.
Launched in 2016, EMDDI allows ride-hailing companies to create and manage their own transport services, such as booking taxis, contract cars, motorbikes and cargo transport.
As for customers, they don’t need to install multiple ride-hailing apps on their mobile phone. Instead, they can use the EMDDI app to choose and use the service of their choice from multiple taxi operators nationwide.
At present, EMDDI (developed as part of a tech project of Hanoi National University) has more than 30,000 taxis on its platform across more than 40 provinces and cities.
As a strategic partner of the Vietnam Taxi Alliance, EMDDI also has been coordinating with nearly 100 taxi companies to manage and coordinate about 3 million rides through the platform each month.
EMDDI also supplies vehicle for third-parties such as VNPAY, ViettelPay, Momo, mobile banking apps and other ride-hailing apps.
As part of this deal, ThinkZone will accompany EMDDI in developing a network of partners, supporting it with many sales and marketing packages, legal consultation from commercial law firm Indochine Counsel, as well as technology infrastructure support from AWS.
ThinkZone is also working with EMDDI on its next round of fundraising, which is estimated to be US$2 million, and is already in talks with large funds.
The two are also preparing resources to further expand in Vietnam as well as into other countries.
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