Last month, a newly launched Vietnamese quick commerce startup, Rino, announced it had raised US$3 million in a pre-seed funding round, led by investors including Sequoia Capital India. Rino, which is a portmanteau of “right now”, is expected to launch later this month, with the increasingly popular q-commerce premise of grocery deliveries within 10 minutes.
Now, the interesting thing about Rino is that its founder, Trung Than Nguyen, was the chief operating officer of food delivery app Baemin Vietnam until November 2021. He was a part of the two-year-old app’s founding team. While Baemin continues to operate—it’s the third-largest food-delivery player in Vietnam—Nguyen decided to move on to groceries and q-commerce.