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Business

CyberAgent Ventures bets on housekeeping provider JupViec

HO CHI MINH CITY -- Vietnam-based housekeeping service JupViec.vn has received seed funding from Japan's CyberAgent Ventures, becoming the first household service startup to receive foreign investment in the country.

     JupViec.vn, known as "Uber for maids," aims to minimize fees for housekeeping and create more jobs in the country. It currently has around 10,000 customers in the capital, Hanoi, who are served by hundreds of full-time domestic workers and 300 part-time staff.

     The amount of the investment was not disclosed, but it is expected to help JupViec.vn expand to three more cities this year, providing on-demand maid service in Vietnam's largest cities. The startup, established in 2012, has had 200-300% annual growth and is Vietnam's largest such service.

     JupViec.vn is expected to expand to other countries in Southeast Asia, helping meet the huge demand for housekeeping among urban families, said Nguyen Manh Dung, head of CyberAgent Ventures in Vietnam and Thailand. He also said CyberAgent Ventures may invest in a future "series A round" of financing for the company.

     CyberAgent Ventures Vietnam has invested in some 20 startups in the country since 2008, including popular restaurant rating website Foody.vn, online retailer Tiki.vn, music website Nhaccuatui and VNG, a digital content company.

(Nikkei)

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