Vietnam-based niche e-commerce startup Foodmap has raised $500,000 in its seed funding round from Wavemaker Partners, founder and CEO Tung Pham told DealStreetAsia.
Foodmap connects farmers and small and medium agricultural producers with end consumers to provide transparency and traceability of farming products.
The capital is aimed at helping Foodmap to scale up through investing in enhancing technology, hiring talent and building warehouses.
Pham claimed that the business has been growing at 20 per cent per month in terms of the number of merchants, product assortments and orders. It currently provides agri-products of different categories such as fruits and vegetables, daily essentials, regional specialties, coffee-tea-chocolate and eco-friendly wellness products.
This is understood to be Wavemaker Partners’ first deal in Vietnam.
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