Japanese startup in Vietnam gets USD 15 million injection

Cinnamon Inc., a Japanese artificial intelligence (AI) start-up firm, which has a technology research center in Vietnam, said on January 28 that it has successfully raised USD 15 million from investors to serve the expansion of its operation in the US.

Established in October 2016, Cinnamon currently employs 60 Vietnamese engineers to develop AI products in Hanoi, Ho Chi Minh City, Da Nang, and Lam Dong.

The company said it will build a contingent of 200 engineers and high-tech development researchers in Vietnam at the end of 2019.

With the new investment, Cinnamon will continue improving the quality of its current products and creating more to promote the operation of big businesses.

CEO of the company Miku Hirano said one of the initial objectives of Cinnamon in the US was to consolidate its presence in Silicon Valley while contributing to the development of its core markets and building a sales team in the US.

The building of a sustainable investment resource is a key element in the company's expansion strategy, helping it continue to growth and create new products for AI applications, she added.

Source: People's Army Newspaper