VinaCapital Ventures, a USD 100 million Vietnam-focused venture capital firm, has led an investment in social commerce platform Ecomobi alongside other investors including Naver Group, a South Korean internet services and content giant and Line Ventures, the investment arm of the Line messaging app under Naver.
Terms of the investment were not disclosed in VinaCapital Ventures’ press statement.
Founded in 2016 by three Vietnamese founders, Ecomobi partners with publishers and facilitates commerce via multiple social media platforms such as Facebook, YouTube, Instagram, and Vietnam’s homegrown messaging app Zalo.
By using AI/machine learning chatbot technology, Ecomobi helps brands and e-commerce websites connect with key opinion leaders (KOLs) and social traffic and sell their products via reviews, promoted content, and product experience. Its merchandize partners across Southeast Asia include e-commerce leaders such as Tokopedia, Shopee, Tiki, and Lazada.
Ecomobi has operations in Indonesia, Vietnam, Thailand, and Singapore. In 2018, Ecomobi claimed that it helped more than 100 brands and e-commerce sites sell over USD 100 million in merchandize value and services across 30,000 media channels.
Truong Cong Thanh, CEO and one of the founders of Ecomobi, said the aim is to launch in Malaysia and the Philippines within the next 2 years. ESP Capital is also making an additional investment as a follow up to their seed investment in Ecomobi back in December 2018.