The Vietnamese edtech startup, Vuihoc, has successfully raised $6 million in its latest funding round, with TNB Aura – a prominent venture capital firm – taking the lead.
According to Dealstreetasia, the investment comes after a previous funding announcement from Do Ventures – another venture capital firm – in August of last year. This funding round marked Vuihoc's first round of financing since its inception two years ago.
In September last year, Vuihoc secured an additional $2 million in bridge financing, led by Bace Capital – a fund backed by fintech giant Ant Group. Other notable investors, including Vulpes Ventures, DT & Investment, Colopl Next, and Nextrans, also participated in this round.
The consecutive successful funding rounds have demonstrated the strong appeal of Vuihoc to investors.
Le Hoang Uyen Vy, CEO of Do Ventures, explained their decision to invest in the company, highlighting Vuihoc's impressive achievement of developing a successful online education product that offers engaging and age-appropriate content for primary school students.
Founded in 2019 by Do Ngoc Lam and Do Minh Thu, Vuihoc provides an extensive educational platform for students nationwide, ranging from kindergarten to 12th grade. The platform offers a comprehensive library of 400,000 learning resources, including videos, puzzles, and various lesson materials.
Vuihoc also provides interactive live classes, enabling students to learn individually or in small groups with dedicated teachers who provide immediate feedback. Currently, the platform hosts approximately 1,000 daily classes.
With the newly acquired funds, Vuihoc plans to further enhance its product offerings and attract a larger user base, aiming to reach one million paying users by 2024.
In a recent strategic move, the firm has appointed former CEO of Apax Holdings Travis Richard Stewart, a prominent educational organisation in Vietnam, as vice chairman of Academy and Strategy, demonstrating its commitment to growth and development.
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