Vietnamese automotive services platform Bonbon Mobility has secured $500,000 in pre-seed funding in a round led by Vietnamese conglomerate Tasco, with GenAI Fund also participating.
GenAI Fund said on Tuesday that Bonbon was developed through Tasco Foundry Wash3000, a venture-building initiative jointly operated by Tasco and GenAI Fund to create new businesses within Vietnam’s vehicle-services ecosystem. Both investors are headquartered in Vietnam.
Bonbon connects vehicle owners with garages and car-care providers through an online-to-offline model. Rather than establishing its own service locations, the startup adds digital booking and payment capabilities to existing garages. The team estimates that Vietnam has more than 12,500 car-wash and vehicle-care locations, with independent operators accounting for the majority.
Tasco will support the startup with access to its customer base of vehicle owners, distribution channels, payment infrastructure and data. This includes information from its VETC electronic toll network. Bonbon, meanwhile, is tasked with developing the network of partner garages and managing the customer experience.
The fresh capital will be used to increase the number of garages on Bonbon’s platform, enhance its technology infrastructure and introduce additional services. Founder and CEO Nguyen Chi Dung said the funding would enable the company to further develop its platform, onboard more garage partners and create tools that help service providers connect with customers.
GenAI Fund described the transaction as an example of its “venture builder” strategy, which involves partnering with established companies to develop and validate new business concepts before providing investment, rather than relying on startups to approach the fund with pitches.
Laura Nguyen, CEO and managing partner at GenAI Fund, said the approach allows established companies to use their assets and scale as a foundation for launching new ventures, while requiring the startup team to demonstrate its ability to execute and create value.
The investment comes against a more cautious backdrop for venture funding in Southeast Asia. GenAI Fund cited figures showing that startups in the region attracted around $2.81 billion across 98 equity transactions during the first quarter of 2026, which it described as the lowest number of deals recorded in at least eight years.
GenAI Fund said it is now looking to replicate the venture-building model with additional corporate partners across Southeast Asia.
