VinaCapital Ventures invests in Vietnam-based video conferencing provider
VinaCapital Ventures, the technology investment vehicle of VinaCapital Group, has announced its investment in Quickom, a Vietnam-based video conferencing communication provider with proprietary and US-patented technology. It is leading the current 1.5 million USD seed funding round.
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| VinaCapital Ventures invests in Vietnam-based video conferencing provider. (Illustrative photo: VNA) |
Quickom was founded in 2021 by Dr. William H. Nguyen, a Vietnamese technology pioneer and serial entrepreneur with a history of successful ventures in communication technology, education, computer network and data security, serving tens of millions of users worldwide.
In 2023, Quickom hosted over 500 livestreaming events on its platform. The company has cooperated with a number of large organisers including the Vietnam National Innovation Center, Techfest Vietnam, HOZO, and ETH Vietnam. With these and other top-tier clients, Quickom expects its top-line revenue will grow by more than 100% year-on-year over the next three years.
The global video communication market is experiencing rapid growth, fueled by the increased adoption of virtual workplaces and workforces.
To facilitate this surging demand, most video-conferencing providers rely heavily on centralised data centres which present significant challenges, including inefficient resource utilisation and costly scaleup.
Quickom’s solution differs from other conferencing providers by utilising a decentralised peer-hosted network architecture that enables data transmission directly between users or nodes, bypassing the need for a centralised data centre. The decentralised network employs an algorithm that extracts unused bandwidth and processing power to process and route video, audio and other data, significantly bringing down the overall costs associated with hosting virtual calls.
Its solution also reduces network congestion, resulting in stable and high-quality calls as well as lower operating expenses, maintenance costs and energy waste.
Nguyen said the company was delighted to welcome VinaCapital Ventures as one of its investors, adding that “Their investment will play a pivotal role in driving Quickom's global expansion in the conference business.”
Hoang Duc Trung, Partner at VinaCapital Ventures, said: "Vietnam is quickly closing the gap in terms of technological advancement and the digital transformation of the economy is well underway. Quickom is a perfect example of one of the startups leading the way. Its solutions are innovative and advanced, addressing important current issues such as cyber security and data privacy as well as future cyberspace threats. We are thrilled to be one of Quickom’s early investors and are excited to see where they take the business”.
(Source: VNA)
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