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Vietnam’s Metaverse startup receives US$1 million

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Vietnam’s startup projects following the Metaverse trend have introduced and attracted capital from the international investors.

Startup Metaverse của người Việt nhận vốn đầu tư khủng triệu USD

VerseHub is one of many Vietnamese startups developing a virtual universe. (Metaverse). Photo: Trong Dat

According to Yahoo News, VerseHub – a Vietnamese technology startup – has received $1 million by a group of angel investors. The startup develops technology products following the trend of the Metaverse virtual universe.

Since Facebook changed its name to Meta and confirmed it would pursue the development of a virtual world, Metaverse projects have become a hot trend in the international technology market.

According to Yahoo News, VerseHub is invested in by a group of unnamed investors, led by GameFi. The founders of VerseHub have had hands-on experience in creating Metaverse products, even before the trend spreads.

Canh Ho – co-founder and CTO of VerseHub – said that he initially wanted to set up a company in the UK but the startup will soon move to Vietnam to contribute to spreading the entrepreneurial spirit in his homeland.

Before receiving funding from a group of investors led by Gamefi, VerseHub had been incubating the project for six months and declined many invitations for cooperation, Canh Ho said.

The founders of VerseHub wanted to build a sustainable product instead of chasing short-term profits. Therefore, the research team had been quietly implementing their project for a long time, before calling for investment capital.

Before VerseHub, another Metaverse startup of Vietnam, Meta Spatial, had successfully raised capital from many investment funds, including Animoca Brands, the key investment fund in the first round of capital for Axie Infinity.

Trong Dat

Source: https://vietnamnet.vn/en/sci-tech-environment/vietnam-s-metaverse-startup-receives-us-1-million-795062.html

Sci-tech-environment

Vietnamese digital banking startup gets 20 million USD

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According to Techinasia, Vietnam-based bank Timo has raised $20 million in an investment round led by Square Peg. 

This is a famous investment fund that has invested in technology unicorn projects such as Canva, FinAnce and Airwallex.

Startup ngân hàng số Việt nhận khoản đầu tư khủng 20 triệu USD

In addition to Square Peg, Jungle Ventures, Granite Oak, Phoenix Holdings and several other angel investors also participated in this funding round.

This is Timo’s first fund-raising round. Proceeds from investors will be used to develop the base technology, with a focus on products specific to the Vietnamese market.

Established in 2015, Timo is a provider of digital banking services that enables users to make payments and participate in other financial services without having to go directly to a bank branch. Timo users can even open a bank account without going to a bank for registration.

Timo’s successful funding round comes in the context of increasing digital banking products in Southeast Asia, especially in Vietnam.

According to McKinsey & Company Vietnam, the percentage of service users of Fintech (financial technology) companies in Vietnam increased from 16% in 2017 to 56% in 2021.

The popularity of e-wallets and Fintech in Vietnam is higher than the average of emerging markets in the Asia-Pacific region and even higher than some developed countries.

Cash is still the “king” in all payment segments in Vietnam. However, the openness of Vietnamese users to e-commerce is very high. Consumers are willing to spend digitally, even with complex financial products involving mortgages, investments, and insurance policies.

McKinsey & Company also said that the scale of Vietnam’s digital ecosystem is estimated at 50 billion USD and can increase to 100 billion USD by 2025.

Before Timo, another Fintech startup in Vietnam – MoMo – announced the completion of the 5th round of funding (Series E) with a total investment of about 200 million USD. This deal also turns MoMo into a technology unicorn when it is valued at up to 2 billion USD.

The Covid-19 pandemic has contributed to promoting the development of digital payments in Vietnam as both people and businesses have formed awareness and understood the value of cashless payments. The habit of non-cash payments will not only be maintained but also will continue to be promoted in Vietnam in the post-pandemic period.

Trong Dat

Source: https://vietnamnet.vn/en/sci-tech-environment/vietnamese-digital-banking-startup-gets-20-million-usd-809687.html

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Stories about digital transformation shared on portal

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The T63 information portal – the digital stories of 63 cities and provinces – has been launched by MIC at T63.mic.gov.vn. This is the place for localities to share their experiences during the digital transformation process.

Stories about digital transformation shared on portal

At the conference

The Ministry of Information and Communications (MIC) recently organized an online conference to share and disseminate experiences on digital transformation, connecting with 63 local departments of information and communications.

The leaders of Thai Nguyen, HCM City, Thua Thien – Hue, Bac Giang, Ba Ria – Vung Tau, Lang Son, Thai Binh, Binh Duong and Da Nang talked about digital transformation in their localities in accordance with three topics – digital government, digital economy and digital society.

The stories are about the application of Party Member Handbook platform; provincial digital transformation model in LangSon; the deployment of information system that serves safe, flexible adaptation and effective control of the pandemic in HCM City; AI switchboard solution to advise and support F0s at home; and QR Code travel permit application in Da Nang.

Deputy Minister of Information and Communications Nguyen Huy Dung said digital transformation is a story of 63 cities/provinces, more than 700 districts and over 11,000 communes.

With the viewpoint ‘success comes from sharing’, MIC built an information portal for 63 cities/provinces to share their stories at T63.mic.gov.vn.

Each article must not contain more than 1,000 words and each clip must not be longer than 12 minutes.

“In the last few years, we have heard success stories in other countries. And now, I hope that every locality can tell success stories of its own,” Dung said.

He went on to say that he expects to listen to stories about topics which were still not related at the conference, such as digital transformation at people’s councils at different levels; digital skill training; the tools and platforms that help localities go digitized; and the use of data to make important decisions.

MIC has asked the International Cooperation Department and Authority of Information Technology Application to upgrade the website to make it more convenient to use so that users just make one click to share their stories on many social network platforms. This will also be a repository of original stories for central and local media agencies to build reports and infographics to contribute to the sharing of information.

At the conference, the Authority of IT Application introduced training courses on digital information to be provided to 10,000 officers at state agencies and media agencies. The training is expected to begin in March 2022. Four major issues would be mentioned in the training, including 1/ heightening awareness about digital transformation 2 /digital government 3/ digital economy and 4/ digital society. 

Trong Dat

Source: https://vietnamnet.vn/en/sci-tech-environment/stories-about-digital-transformation-shared-on-portal-809558.html

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Endangered turtles returned to wild

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A member of the Chàm Island’s Marine Protected Area (MPA) management board releases an endangered tortoise. Seven turtles were rescued by local farmers in 2021. — Photo courtesy of Chàm Islands MPA

CHÀM ISLANDS  — The Chàm Island’s Marine Protected Area (MPA) management board and Quảng Nam provincial rangers have released an endangered turtle to the local forest, three days after it was captured by a local farmer and handed to the MPA.

Huỳnh Thùy Hương, an MPA communication employee, told Việt Nam News that the Chinese strip-neck turtle (Mauremys sinensis) was found by Trương Công Tánh at a paddy field in Điện Bàn Town in Quảng Nam Province on January 14, who gave the turtle to the MPA.

The 1.5kg, 24cm shell turtle, which is listed in the International Union for Conservation of Nature as a critically endangered species, was returned to the wild on January 20.

Chinese strip-neck turtle (Mauremys sinensis) — a critically endangered (CR) species listed in the International Union for Conservation of Nature (IUCN) — is found on a paddy field in Quảng Nam Province. — Photo courtesy of Chàm Islands MPA

According to MPA, seven tortoises and sea turtles, handed in by locals, have been released in the Chàm Islands in 2021.

The Chàm Islands-Hội An (including the total area of the Islands’ land and water and Hội An) was recognised as a World Biosphere Reserve in 2009. It is home to a large population of sea turtles and tortoises.

The MPA also reported that nearly 1,000 baby turtles had been released into the ocean in 2017-19 since the ex-situ hatching (moving turtle eggs to another place for hatching) conservation project was launched in 2017.

The Chàm Islands is the only successful site for the ex-situ turtle eggs hatching project in central Việt Nam. —

Source: https://vietnamnews.vn/environment/1118121/endangered-turtles-returned-to-wild.html

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