Vietnam-based startup accelerator ThinkZone has led a pre-Series A funding round in local ride-hailing management platform EMDDI, according to an announcement on Tuesday. Financial terms of the funding round were not disclosed.
Developed from a technology project of Hanoi National University, EMDDI is the first online ride-hailing management platform in Vietnam to host multiple cab aggregators.
The company claims that it has more than 30,000 operating taxis in more than 40 provinces and cities. As a strategic partner of the Vietnam Taxi Alliance, EMDDI has been coordinating with nearly 100 taxi companies to manage about 3 million rides through the platform each month, the EMDDI announcement said.
Lead investor ThinkZone is working with EMDDI to plan the latter’s next round of fundraising, which is estimated to be $2 million. Both have approached large investment funds, as well as prepared resources to thrive in Vietnam and other countries.
ThinkZone, established in early 2019, has three divisions: Innovation Lab, ThinkZone Accelerator, and ThinkZone Venture. It recently signed a cross-border partnership with Cambodia-based governmental organisation CJCC to support the startup ecosystem in the two countries.