Lozi, a Vietnamese restaurant rating and location website, has raised seven-digit funding from Singapore-headquartered Golden Gate Ventures and Japanese-owned Internet media company DesignOne Japan Inc., local media reported Friday. A representative of Lozi was quoted as saying in news website VnExpress that the investors will also provide it with consultancy regarding business and technology so it will expand its activities not only within Vietnam but also other Southeast Asian countries. The size of the latest deal was not revealed. Lozi received first funding round, reportedly US$10,000, from state-run accelerator Vietnam Silicon Valley last year and is now valued at $2 million, Singaporean-owned financial website Deal Street Asia reported. With mobile apps available on both iOS and Android, Lozi’s subscription hit 500,000 by November 30, 2015. Lozi is the second investment of Golden Gate Ventures, whose portfolio consists of 25 different companies mostly in Southeast Asia, in Vietnam, after digital content distributor Appota, Deal Street Asia reported.
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