The company is expected to use the money to enhance research and development, improve customer experience, develop human resources, and increase its number of points of sale from the current 3,000 to 4,000 this year.

Mutosi, founded in 2018 by Tran Trung Dung and three others, manufactures and distributes water purifiers, kitchen appliances, air purifiers, and water treatment systems.

Mutosi is the second company to receive investment from the Mekong Enterprise Fund IV (MEF IV) after chocolate maker Marou in April.

MEF IV, which is worth $246 million, plans around 12 investments of $10-35 million in businesses in education, restaurants, consumer services, fast-moving consumer goods, and healthcare.