
Lozi
E-commerce platform in Vietnam offering local food and shopping delivery services.
Date | Investors | Amount | Round |
---|---|---|---|
- | investor | €0.0 | round |
investor | €0.0 | round | |
N/A | €0.0 | round | |
N/A | €0.0 | round | |
investor investor investor | €0.0 | round | |
investor | €0.0 | round | |
N/A | Late VC | ||
Total Funding | 000k |
USD | 2019 | 2020 | 2023 |
---|---|---|---|
Revenues | 0000 | 0000 | 0000 |
% growth | - | 16 % | - |
EBITDA | 0000 | 0000 | 0000 |
Profit | 0000 | 0000 | 0000 |
EV | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Lozi, a Vietnamese technology company, initiated its journey in 2013 as an application for reviewing food and beverage establishments. It was founded by Nguyen Hoang Trung, who, after studying in South Korea, returned to Vietnam to establish the venture. Initially targeting younger demographics like Generation Z and millennials, the platform served as a discovery tool for local eateries.
A significant transformation occurred in 2015 when Lozi evolved into a social customer-to-customer (C2C) e-commerce network, broadening its scope beyond just reviews. This strategic pivot laid the groundwork for its next major development. Recognizing the logistical gap between buyers and sellers on its platform, the company launched its own delivery fleet, Loship, in late 2017. This move marked a critical shift towards a comprehensive, one-hour delivery service, which rapidly became the central focus of the business. The company has since focused its brand identity around Loship, reportedly discontinuing the original Lozi app in 2023.
The business operates as a multi-service, on-demand delivery platform in major Vietnamese cities like Hanoi, Ho Chi Minh City, Da Nang, and Can Tho. Its service portfolio is extensive, encompassing food delivery (LoFood), grocery delivery (LoMart), medicine delivery (LoMed), parcel courier (LoSend), ride-hailing (LoXe), and laundry services (LoGiặt). A key operational characteristic is the promise of one-hour delivery, which it facilitates through its dedicated fleet of over 70,000 drivers connecting with more than 200,000 merchants. The company has also expanded into the B2B sector with Lo-supply, a service providing wholesale ingredients and packaging to its partner restaurants, which accounted for a significant portion of its profit in 2019. Revenue is generated through commissions, delivery fees, advertising, and the sale of supplies to merchants.
Lozi has successfully secured significant funding over several rounds to fuel its expansion. After an initial investment from Vietnam Silicon Valley in 2015, it raised a seven-digit amount from Golden Gate Ventures and DesignOne Japan Inc. A substantial eight-digit Series B funding round was led by South Korea's Smilegate Investment in 2019, followed by a bridge round in 2020. By August 2021, the company had raised a total of $12.5 million.
Keywords: on-demand delivery, e-commerce, food delivery, ride-hailing, hyperlocal, logistics, last-mile delivery, B2B supply, quick commerce, Vietnam