While farm-to-table is a growing movement in Asia, it still remains in its infancy. However, one startup in Vietnam is hoping technology can make it more popular. Foodmap is connecting the public to ethical farmers and food producers directly via its website and app. The company launched in 2018 and has made significant strides since then. Here are three things you should know about Foodmap.
1) Foodmap helping food producing SMEs gain public recognition
Foodmap focuses on getting products from small- and mid-sized ethical farmers in the hands of consumers. Since many people in Vietnam may be unaware of these companies, Foodmap independently verifies everyone that applies for placement on its platform. They vet the food producers to ensure they are delivering on all claims.
For consumers, they can be confident that the products being purchased and consumed are trustworthy while sellers now have an easy way to verify their methods. It is a win-win for all parties.
2) They are partnering with Lazada
When COVID-19 struck and Vietnam went into lockdown, Lazada launched a two-hour, fresh food delivery service. Foodmap was one of the companies it chose to cooperate with on the project which was well received in Ho Chi Minh City. The partnership allowed smaller food producers with a chance to reach more consumers.
3) Foodmap received USD 500k in seed funding
The startup recently received USD 500,000 in seed funding from Wavemaker Partners. Foodmap has earmarked the investment to go towards expansion plans. These include improving its technology, hiring additional staff and building a more robust logistics infrastructure. The company estimates that it has seen a 20 percent monthly growth in sellers. The cash influx will allow it find and vet more food producers.
Wavemaker Partners is a venture capital firm that focuses on early stage investments. Providing seed funding to Foodmap was the outfit’s first investment in Vietnam.
