Vietnamese e-grocery shopping platform Cooky has raised $4.5 million in a funding round led by Korea-based investment firm Nextrans and local venture capital firm Do Ventures, according to an announcement.
Cooky was started by Minh Dang and Dai Nguyen who were the founding members of Vietnam’s pioneer food delivery player Foody. After successfully exiting Foody to SEA Group, the duo established Cooky which currently has over 1 million downloads after 1.5 years of operation.
The company said that the fresh funds will be used to accelerate Cooky’s R&D to create more diverse healthy meal kits at better prices. Cooky provides a wide range of choices with a focus on ready-to-cook meal kits.
Vietnam’s e-grocery market is expected to reach $1.5 billion by 2025, according to Cooky’s estimates.
“Vietnam’s grocery retail market should be innovated to become more efficient and transparent. Cooky provides excellent ready-to-cook meals with better pricing and a pioneering system built for farm-to-table distribution. Nextrans believes that Cooky’s innovative model will make meal preparation more convenient and give Vietnamese people a healthier lifestyle,” said Nextrans managing director Seung-Ho Chae.
“In today’s busy schedule, Cooky provides us with a comfortable way to make meals without planning recipes and going to the supermarket. We believe that Cooky’s founding team can build on its previous success and create a game-changing food delivery service in the Vietnam market,” said Vy Le, General Partner at Do Ventures.
In 2017, DealStreetAsia first reported that Singapore-based consumer Internet group Sea Limited acquired Vietnamese gourmet media platform Foody Corporation for around $64 million.