Telio, Vietnamese B2B marketplace, reportedly secured $15m in a down round 💰

Vietnam-based B2B e-commerce startup, Telio, said to have secured funding of $15M from London-based investment firm Granite Oak, according to DealStreetAsia.

• Highs and Lows: This funding round saw Telio's valuation go down marginally but not considerably. The $15M funding is significantly lower than Telio's initial expectation of $50-60M.

• Recap: In a previous funding round in November 2021, Telio raised $51 million at a pre-Series B stage. The primary investors were Vietnamese unicorn VNG and existing investors GGV Capital and Tiger Global.

• Helping Hand: VNG supports Telio by leveraging its messaging platform, Zalo, to aid merchants in order management. Despite this, VNG reported a loss from its Telio investment, estimated at about $7.7 million.

Granite Oak, the investor in Telio's latest round, has backed other Southeast Asian startups like F88, Kumu, and Sunday.

Despite the promising growth of the sector, there have been challenges. Rising inflation and fuel prices have led to cost-cutting measures, including layoffs, in several startups.