Mio is a group-buying social commerce startup founded in 2020 that focuses on selling fresh produce and groceries in Tier 2 and 3 cities and rural areas of Vietnam. It routes produce directly from farms to customers via a vertically integrated supply chain — procurement, warehousing, order sorting and bulk delivery — and owns the majority of its logistics infrastructure and courier fleet. The company enables next-day delivery and says it can deliver fresh produce in less than 16 hours, which has driven higher customer retention. Mio sells through a reseller program called Mio Partners (often housewives and stay-at-home moms) who aggregate orders and earn commissions; the startup says partners can make up to $400 a month. Since TechCrunch last covered the company, Mio reported 10x gross merchandise value growth, a 10x increase in agents, grew its team from 60 to 240, and now fulfills more than 10,000 pieces of fresh produce per day across Ho Chi Minh, Thu Duc, Binh Duong, Dong Nai and Long An. The company plans to expand logistics and fulfillment, enter new Vietnamese provinces (including northern Vietnam) and add categories such as FMCG and household appliances, with potential international expansion considered later. Mio operates a social-commerce platform that recruits local resellers to market and manage group orders for fresh groceries in Vietnam’s smaller cities and rural areas. The company pairs that reseller network with an in-house logistics and fulfillment system, including a distribution center in Thu Duc, to enable next-day deliveries for orders placed before 8 p.m. Mio currently focuses on fresh produce and poultry and limits SKUs to lower logistics costs; it plans to expand into FMCG and household appliances, prioritizing higher-margin white-label goods. The startup claims hundreds of resellers (primarily women aged 25–35) and says resellers earn about $200–$300 on average, receiving a 10% commission plus additional referral-based commissions. Mio says its distribution center can process up to tens of thousands of daily order units. The company intends to use new funding to build out the distribution center and hire for its tech and product teams, and to add more personalization options so resellers can build their own brand identities.

Total raised

$9M

Funding rounds

2

Latest round

Series A

Latest activity

Jan 2022