Vuihoc, an edtech platform serving K-12 Vietnamese students, has secured a $6 million investment in a Series A funding round led by Singaporean venture capital firm TNB Aura.
TKG Taekwang, IBK-STIC Pioneer fund, and existing investors such as Do Ventures, Bace Capital, and Vulpes also joined, TNB Aura announced Monday.
The fresh funds will be used to improve the company’s product offerings and invest in AI to offer personalized learning experiences for students, the Singaporean VC firm said.
Founded by Lam Do and Thu Do in 2019, Hanoi-based Vuihoc has amassed over 1.1 million users, primarily from Tier 2 and Tier 3 cities, the private firm claims. The platform offers educational content, including video lectures and quizzes, and has an inventory of over half a million resources.
The firm also offers live classes that enable students to learn in private or in small groups and where they can get instant 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,” Vuihoc CEO Lam Do said in the announcement.
Before its series A round, the company most recently raised $2 million in a bridge round led by Bace Capital, an investment firm backed by Ant Group.
Vietnam’s edtech sector is experiencing a surge in investment commensurate with its potential, with total investment in this year's first half surpassing that of the entire year of 2022, according to the “Vietnam Innovation & Tech Investment Report 2023”, jointly conducted by Vietnam’s Do Ventures and the country’s National Innovation Center, which is part of the Ministry of Planning and Investment.
In the coming year, Vuihoc will enhance its product portfolio, integrating cutting-edge technologies to provide students with highly effective and captivating learning experiences, according to the TNB Aura announcement.