The integrated agritech platform Techcoop, with its headquarters in Vietnam, has closed a $70 million Series A funding round that includes both debt and equity financing.
The funding consists of $42 million in debt financing and $28 million in equity funding, the company said in a statement on Monday.
Prominent new investors BlueOrchard, FMO, AppWorks, and Capria Ventures participated in the equity round, which was co-led by current investors TNB Aura and AVV.
International debt funds and significant Vietnamese banks provided support for the debt financing.
With this funding, Techcoop will be able to digitize Vietnam’s agricultural value chains and accelerate its growth trajectory.
Additionally, the business intends to use the Series A funding to fortify its technology stack and grow its export infrastructure.
It stated that equity funding will improve the company’s ability to integrate its supply chain and export directly, meeting the rising demands of buyers around the world.
In the meantime, debt financing will support strong corporate governance and sophisticated risk control procedures, both of which are necessary for effectively expanding in global markets.
“This significant investment underscores the transformative potential of technology in enhancing the agricultural sector,
“With this funding, we will expedite our mission to empower 2,000 agri-small and medium-sized enterprises (SMEs), 50,000+ farmer clubs, and 10 million smallholder farmers within the supply chain while promoting sustainable agricultural practices,” said Hao Diep, Co-founder and Chief Executive Officer of Techcoop.
“We are enthusiastic about utilizing these resources to expand our platform and strengthen partnerships to become a leading agritech company in Southeast Asia,” he added.
Currently leading the way in digital innovation in agriculture, Techcoop offers a business-to-business (B2B) platform that offers comprehensive solutions designed for supply chains focused on exports.
Through comprehensive services like technology enablement, product traceability, flexible payment terms, and improved market access for commercializing agricultural goods, the platform empowers agri-micro, small, and medium enterprises (MSMEs) and farmer clubs, three important stakeholders in Vietnam’s agriculture sector.
