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Vietnamese building management tech startup secures S.Korean investment

Vietnamese building management tech startup secures S.Korean investment

Tuesday, October 03, 2023, 18:02 GMT+7
Vietnamese building management tech startup secures S.Korean investment
Employees attend a meeting at AirCity's office in Ho Chi Minh City. Photo: Dang Sang / Tuoi Tre

Vietnamese startup AirCity, which specializes in the management of buildings, apartments, and dormitories using technology, has revealed that it secured investment from South Korean investment fund Sopoong in the initial seed funding stage.

Details of the invested amount remain undisclosed.

AirCity, established in 2021, is a technology-driven startup focused on managing various types of properties, including rental buildings, dormitories, apartments, and offices. 

The company employs advanced solutions like Internet of Things (IoT) technology and artificial intelligence (AI) cameras to enhance building management, reduce costs, and enable remote monitoring, optimizing efficiency and minimizing manpower and time wastage.

In addition to these technological advancements, AirCity offers comprehensive management services to homeowners, facilitating quick and cost-effective solutions to daily tasks. 

They also extend services directly to residents, including repair, cleaning, and door-to-door delivery.

As of now, AirCity has managed almost 100 buildings, providing technology solutions for around 2,000 rooms and serving nearly 3,000 residents, according to its website. 

The startup’s ambitious objective is to expand its reach to manage 100,000 buildings in major Southeast Asian cities.

In addition to Sopoong, which is well known in the Vietnamese market with previous investments in ventures such as Selex Motors, Cooky, and Forte Biotech, AirCity’s latest round of fundraising also saw participation from the prior round investor, Antler of Singapore, as well as contributions from angel investors.

Le Hoang Nhat, co-founder and CEO of AirCity, revealed that the newly-raised funds will be utilized to further enhance their technology platform, incorporating new functionalities to support building operations, including the integration of hardware that bolsters security and safety through facial recognition technology. 

Simultaneously, they will introduce a utility application designed for residents and service providers, aiming to optimize management efficiency and elevate the overall user experience.

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Bao Anh - Duc Thien / Tuoi Tre News


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