By the end of the year, Vietnam’s e-learning market is expected to be worth US $3 billion. Increased internet accessibility, combined with ICT advancements and an increase in smartphone users, is propelling the country’s growth in online learning.
Local edtech firm Vuihoc has raised US $6 million in a series A funding round led by TNB Aura in order to capitalize on this demand. TKG Taekwang, IBK-STIC, Do Ventures, Bace Capital, Vulpes Ventures were the other investors. The new funds will be used to improve the company’s product offerings and to invest in artificial intelligence to provide personalized learning experiences for students.
Vuihoc, founded in 2019 by Lam Do and Thu Do, has over 1.1 million users, the majority of whom are from Tier 2 and Tier 3 cities. The platform provides educational content such as video lectures and quizzes and has a library of over 500,000 resources.
The firm also provides live classes where students can learn in private or in small groups and receive immediate feedback.
“We believe that the support of technology will bring the best possible education to all students, especially those outside of big cities, giving them better opportunities for the future,” Do said in a statement.
Prior to its series A round, the company raised US $2 million in a bridge round led by Bace Capital, an Ant Group-backed investment firm.
