HCMC – M Village, an accommodation solution provider, has successfully raised US$1.7 million from local and international investors. The amount will be invested to expand its network of new serviced apartment models for urban youth.
The investors include Simple Tech Investment – STI (Vietnam), Vulpes Ventures (Singapore), Genesia Ventures (Japan) and angel investors.
These are investors with financial potential in the country and Asia, having funded many startups as well as major unicorns in the region.
Leading the group of investors is STI, a company specializing in investing in digital transformation business models in Southeast Asia, such as 24h, SieuViet group, Anycar and 30Shine.
Officially put into operation in May 2021, M Village has provided short- and long-term accommodation solutions and an ecosystem of utilities from working, dining, healthcare and the ecological community connected by technology.
Up to now, M Village has had five operating apartment compounds and 11 others about to be put into operation.
STI and investment funds from Singapore and Japan participated in M Village as it has potential for development, said STI Chairman Phan Minh Tam.
Nguyen Hai Ninh, co-founder of M Village, said M Village would use the US$1.7 million to invest in technology and improve facilities for residents, expanding the system to other locations such as districts 1, 2, 3, 7, Binh Thanh and Phu Nhuan in HCMC. M Village is expected to become the largest accommodation service in the city this year and the largest in the country by 2024.
