The company said that the investment by VinaCapital Ventures would be used to enter into more strategic partnerships for its business growth.
It was established in 2015, seeking to overcome the challenges in road transport, especially in areas where intercity bus and limousine services dominate. Such areas, the company said, account for more than three-quarters of Vietnam’s passenger transport methods. These transportation providers are often smaller enterprises with limited resources for revenue management, marketing, and customer service.
An Vui comes in with an end-to-end software that helps build websites to facilitate mobile applications, ticket management, and parcel shipment management, and fuel cost management.
Vietnam’s high logistics cost and inefficiency are the reasons behind the investment, VinaCapital Ventures said.
“Helping companies working to transform Vietnam’s logistics sector has been one of our key investment themes since we launched in 2018. Many of these businesses are fairly small and family-owned, and such solutions can help them compete and optimize existing resources,” said Khanh Tran, partner of VinaCapital Ventures.
According to An Vui’s founder Phan Ba Manh, Vietnam’s bus and limousine sector is still very fragmented with an estimated number of 21,000 operators.
The company claims that they have facilitated bus operators in saving 10-20 per cent operating costs and increasing revenue by 20-30 per cent.
To date, it has provided the technology to more than 100 bus operators.
VinaCapital Ventures is one of the most active venture funds to invest in local Vietnam’s startup scenes. VinaCapital debuted the US$100-million fund back in 2018.
In 2019 alone, it has taken part in B2B truck hailing LOGIVAN’s investment round back in February. It also has invested in digital gifting platform UrBox and in Wee Digital, AI and biometric-powered fintech startup simultaneously in March.