Agritech startup Techcoop raises $5 million

The agritech startup will use the proceeds for technology development and expansion across 30 cities and provinces in Vietnam through eight strategic operation hubs in Ho Chi Minh An Giang, Ben Tre, Binh Thuan, Binh Phuoc, DakLak, Gia Lai, and Lam Dong.

"This funding is a tremendous vote of confidence in our mission and vision," said Hao Diep, co-founder and CEO of Techcoop. "We are grateful for the support from institutional equity and debt investors in Vietnam and other parts of Asia, and we are excited to partner with them as we strive to make a lasting impact on the lives of farmers across the country."

Founded in 2022, Techcoop provides integrated trade, digital financing, and advisory solutions to Vietnam's agricultural small- and medium-sized enterprises (SMEs) and farmer clubs across export-driven supply chains.

Techcoop provides agri-inputs (fertilisers, crop protection, seedlings, and mechanical services) with 3-6 month payment terms, and outputs (nuts, fruits and vegetables) with 30- to 60-day payment terms.

The company also provides digital services, including AgriFarm (traceability), AgriSME and AgriERP that help small farmers and farmer clubs be better prepared for exports. Techcoop has partnered with over 2,000 agri-SMEs and farmer clubs, reaching over 150,000 farmers.

"Techcoop is on a mission to empower millions of smallholders in Vietnam and unlock the full potential of many value chains through trade, finance and digital inclusion," said Hau Ly, partner at AVV. "The sector is ripe for innovation and growth. We believe in the team's dedication and deep operational experience in agriculture, fintech, and banking, Techcoop will contribute to a more sustainable and prosperous future for Vietnamese agriculture."

Techcoop delivered $10 million in sales and turned a profit last year.

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