Predict your next investment

Family Office
prismvc.com

See what CB Insights has to offer

Investments

2

About Prism Ventures

Prism Ventures is a joint family investment fund with a focus on biotechnology and health tech companies.

Prism Ventures Headquarter Location

New York, New York,

United States

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Prism Ventures News

Vietnamese on-demand e-commerce platform Loship raises $12M at a valuation of $100M – TechCrunch

Aug 4, 2021

Loship , the Vietnamese on-demand e-commerce platform that began as a opinions app, introduced at the moment it has raised $12 million in pre-Collection C funding, bringing its valuation to $100 million. The spherical was co-led by BAce Capital, an Ant Group-backed enterprise agency, and the direct funding unit of Solar Hung Kai & Co Restricted. Based in 2017, Loship provided one-hour deliveries for a wide variety of services, together with meals, ride-hailing, drugs and B2B provides. The corporate says it has greater than 70,000 drivers and 200,000 retailers, and serves about 2 million prospects in Hanoi, Ho Chi Minh Metropolis, Da Nang, Can Tho and Bien Hoa. The brand new spherical brings Loship’s complete raised to $20 million. Its earlier funding was a bridge spherical from MetaPlanet Holdings, announced in February 2021 . Loship is within the technique of elevating a Collection C, anticipated to shut by the tip of this 12 months, and is in superior talks with buyers. Co-founder and chief govt officer Trung Hoang Nguyen instructed TechCrunch that Loship raised a pre-Collection C spherical as a result of “there are such a lot of buyers taking part in our Collection C spherical that we discover it will take a very long time to utterly shut.” Because of this, Loship determined to separate the spherical right into a pre-Collection C and Collection C.  MetaPlanet Holdings returned for the pre-Collection C spherical, which additionally noticed participation from Wealth Effectively, Prism Ventures and SQ Capital Group (SCCG Ventures Asia). Particular person buyers included former Starbucks Vice President Mojtaba Ahkbari; FNZ Group APAC chief govt officer Tim Neville; BNP Paribas world macro gross sales director Ben Fitzpatrick; DASS-Inc founder and CEO Wayne Cowden; EC1 managing companions Simon Eglise; Ilwella Pty Ltd director Quentin Flannery; Prenzler Group director Jonathan Feil; and iVS CEO Milan Reinartz Loship’s new funding will likely be used to broaden into new cities and develop verticals like B2B deliveries for small meals and beverage companies and retail shops. As a part of the spherical, BAce Capital founder Benny Chen, the previous managing director of Ant Group India, the place he invested in Paytm and Zomato, will be part of Loship’s board of administrators. Co-founder and CEO Trung Hoang Nguyen mentioned Loship has a “very clear path to profitability.” The corporate began out as an internet evaluate platform, earlier than individuals started utilizing it to purchase and promote objects by way of chats. “Again then, individuals used our Lozi app the identical method as eBay, the place they might listing their merchandise, purchase from and promote to others. Nevertheless, we couldn’t actually know whether or not the transaction through Lozi was accomplished, particularly when it was purely on-line chat,” Nguyen instructed TechCrunch. “One of the best ways to know the precise standing of the transaction was to manage the supply.”  Because of this, the corporate launched Loship in late 2017, beginning with meals deliveries after which increasing into different verticals. Nguyen defined that its platform consists of “mainly something that may match on or be transported legally by bike.” This implies verticals devoted to ride-hailing, groceries, drugs, laundry, packages, flowers, magnificence merchandise and B2B provides like substances and meals packaging. The variety of its verticals helps Loship differentiate from giant gamers like Seize and Gojek, Nguyen mentioned. He added that being a homegrown startup additionally provides it a bonus. “As the one native participant, we perceive our native prospects on a deeper degree in comparison with different regional ones. We’re locals and we now have our profitable playbook. We strategically enter into new and comparatively untouched markets like lower-tier cities, develop the shopper base after which take issues ahead from there.”  Loship’s plan till the tip of 2021 is to broaden into 5 extra main cities, bringing the whole variety of cities it operates in to 10. Then it plans to launch in Tier 2 and three cities in Vietnam, earlier than increasing regionally in Southeast Asia (Nguyen describes Laos and Cambodia as “must-win markets.”) In an announcement in regards to the funding, Chen mentioned, “Loship creates a robust ecosystem which provides worth to small enterprise, prospects in addition to riders. Beneath Trung’s entrepreneurship and management, we noticed the corporate get a lot stronger through the pandemic by continuously bringing product and repair innovation to its retailers and customers.”

Prism Ventures Investments

2 Investments

Prism Ventures has made 2 investments. Their latest investment was in Loship as part of their Series B - II on August 8, 2021.

CBI Logo

Prism Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/4/2021

Series B - II

Loship

$12M

Yes

8

6/29/2021

Series B

Subscribe to see more

$99M

Subscribe to see more

10

Date

8/4/2021

6/29/2021

Round

Series B - II

Series B

Company

Loship

Subscribe to see more

Amount

$12M

$99M

New?

Yes

Subscribe to see more

Co-Investors

Sources

8

10

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.