Vietnam’s fast-growing agritech platform, TECHCOOP, has raised $70 million in a landmark Series A funding round, comprising equity and debt financing, to accelerate its efforts in digitising the country’s agricultural supply chains.

The equity portion of the round was co-led by existing investors TNB Aura and AVV, alongside new backers including BlueOrchard, FMO, AppWorks, and Capria Ventures. Debt financing was supported by major Vietnamese banks and international debt funds.

Founded in late 2022, TECHCOOP operates a B2B platform designed to modernise Vietnam’s export-oriented agricultural supply chains. It provides technology-driven solutions to Agri-MSMEs and farmer clubs, offering product traceability, flexible payment terms, and enhanced market access. The company focuses on high-value crops such as cashew nuts, coconut, coffee, fresh fruits, and vegetables while advocating for sustainable farming practices.

With this fresh capital, TECHCOOP aims to expand its technology stack, enhance its supply chain integration, and bolster its direct export capabilities to meet the increasing demand from global buyers. The equity funding will be used to strengthen its platform and partnerships, while the debt portion will support risk management and corporate governance measures.

“This significant investment underscores the transformative potential of technology in agriculture. With this funding, we will expedite our mission to empower 2,000 agri-SMEs, over 50,000 farmer clubs, and 10 million smallholder farmers while promoting sustainability,” said Hao Diep, Co-founder and CEO of TECHCOOP.

Co-founder and CTO Tuan Nguyen added, “We are investing heavily in innovation and digital technology to create a robust platform that connects Agri-MSMEs and farmers’ clubs to global supply chains. Our focus is on enhancing tools and systems to simplify services for our partners.”

The $70 million Series A round includes $28 million in equity funding and $42 million in debt financing, making it one of the largest agritech investments in Vietnam. The company has maintained profitability while growing at a remarkable 10% month-on-month rate. TECHCOOP expects to reach $130 million in annualised revenue by the end of 2024, with projections of $250 million in 2025 and $400 million by 2026.