Farmers in Vietnam were facing several supply chain issues, such as inconsistent product quality and high production and distribution costs. COVID-19 further exacerbated their challenges. Thi Nguyen recognized the struggles and decided to take action.
During the lockdown in 2021, Nguyen observed the worsening inefficiencies in the agricultural sector. Farmers couldn’t sell their crops, and consumers couldn’t access fresh produce. This led to crops spoiling during transportation, leaving farmers financially strained. Motivated to create a more sustainable agricultural system, Nguyen and his former colleagues launched Koina.
Headquartered in Ho Chi Minh City, Koina is a data-driven agritech platform founded by former executives from Grab, VinID, and GiaoHangNhanh. The platform aims to streamline the agricultural ecosystem by delivering high-quality fresh produce from farms to retailers at affordable prices.
Nguyen emphasizes placing farmers at the core of the business and leveraging technology to address their challenges. Koina assists farmers in selling their crops, procuring farming inputs at lower costs, and adopting new agricultural techniques for increased productivity and improved product quality.
Improving Supply Chain Standards
Koina’s platform helps farmers by facilitating crop sales, connecting them with input suppliers, and collaborating with scientific institutes to enhance farming practices. By standardizing the supply chain, Koina aims to provide transparent information on product quality and origins, while also introducing financial and technological support for stakeholders.
Challenges in Changing Farming Practices
Despite the benefits Koina offers, changing traditional farming habits among older, tech-adverse Vietnamese farmers remains a challenge. Limited access to agricultural funds and fragmented supply chain operations further complicate the industry. However, Koina continues to work towards standardizing the supply chain and improving stakeholder effectiveness through technology.
With a vast market opportunity in Vietnam’s agricultural sector, Koina plans to focus on crop products and expand within the fruits and vegetables category before potentially branching out to seafood. The recent funding of US$1 million from VinaCapital will support Koina’s expansion efforts and enhance product value for customers.
For Vietnamese farmers, Koina represents a promising solution to uplift their livelihoods and foster a more sustainable and efficient agricultural landscape.
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This article was originally published on February 16, 2023.
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