Vietnamese food recipe portal Cooky raises US$500K investment led by ESP Capital | Digital Asia
The funding round is led by ESP Capital alongside local venture firm Founders Capital and undisclosed angel investors
Food recipe platform from Vietnam, Cooky, announced that it has raised US$500,000 in a funding round led by ESP Capital, who is already backing the company in 2017, with Founders Capital and undisclosed angel investors, as reported by Deal Street Asia.
With the funding, Cooky plans to deepen its brand name through a series of initiatives, such as tutorial sessions, connecting users with celebrities and chefs, and increasing online interaction between users.
“The latest investment will be used to enhance our offers, enlarge the user base, and expand our operations,” said Vuong Nguyen, founder of Cooky.
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The portal was founded in 2015 and claimed that it has over 3 million visits per month, as well as 40,000 recipes on its online platform in addition to more than 200 offline cooking tutorial sessions.
The company’s main target is the millennials generation, accounted for 33 per cent of Vietnam’s 100 million population with the do-it-yourself and online sharing lifestyles.
“We participated in the company’s second round to support its growth in the coming time,” said Vy Le, CEO of ESP Capital.
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ESP Capital was established in 2017, with US$20 on it ready to be invested in Vietnamese early-stage startups and in opportunities across Southeast Asia. So far, it has backed 10 companies, including eight Vietnamese startups and two Singapore-based startups.
Founders Capital is headquartered in Singapore with an office in Hanoi. It has backed a few Vietnamese startups such as Thethao247, Metub Network, Luxstay, and Viralworks.
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