Edtech startup VUIHOC bags $2 million in bridge funding ahead of Series A

September 08, 2022 | 16:03
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VUIHOC has raised $2 million in a bridge round led by Ant Group-backed venture capital firm BAce Capital that was joined by other investors including Vulpes Venture, DT&Investment & Colopl Next, and Nextrans.
Edtech startup VUIHOC bags $2 million in bridge funding ahead of Series A

The company will funnel the new capital into developing its current business to reach the milestone of 1 million paid users by 2024.

It will continue to invest in tech to further enable adaptive learning, thereby increasing students’ engagement and learning efficiency. The edtech startup is working to close its series A round by the end of this year.

A pressing challenge in today’s schools is to ensure that all students have access to an equal education, which should in turn strengthen social and economic conditions for both individuals and society.

In Vietnam, educational resources are not equally allocated between urban and rural areas due to geographical and economic constraints. Unlike metropolitan regions, students in remote areas often have significant difficulties related to a lack of qualified teachers and limited learning materials.

Through tech-enabled education platforms, students have the chance to learn from qualified teachers and a wider array of learning solutions for different needs.

Co-founder and CEO at VUIHOC Lam Do said, “We are committed to the goal of giving every student in Vietnam, from any background, exposure to a high-quality education that is affordable. Increasing education equality will empower students to achieve better academic outcomes, leading to higher-income jobs and improved career prospects.”

Benny Chen, managing partner at BAce Capital said “We believe there is significant potential for Vietnam's edtech market. Vietnamese culture highly emphasises education and the online format has achieved wider adoption during the pandemic.”

"We like VUIHOC’s content as it covers comprehensive K-12 courses with an extra focus on early grades to generate higher customer lifetime value. Moreover, we believe that VUIHOC’s live class and small group offerings will be the market trend given their massive adoption in China and India," Chen added.

Founded in 2019, VUIHOC is an online education platform that offers affordable high-quality education for Vietnamese students.

The K12 education platform provides access to over 400,000 learning materials including homegrown courses, video lectures, quizzes, and intuitive small classes. Hundreds of thousands of accumulated users nationwide have counted on VUIHOC as an accessible gateway to a high-quality education.

VUIHOC also provides tutoring courses where students are taught one-on-one or in small groups with a carefully structured and results-driven curriculum.

The platform currently operates over 1,000 classes every day, allowing students to learn based on their interests and access learning resources anytime and anywhere thanks to the versatility of mobile phone optimisation.

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Educational technology (edtech) startups in Vietnam have drawn many domestic and foreign venture capital funds thanks to their high development potential.

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By Thanh Van

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