Vietnamese edtech startup Educa
Educational technology startup Educa has raised $2 million from Singapore-based Redefine Capital Fund. The company eyes two million paid users among 20 million Vietnamese students by 2025. The startup solves limitations and difficulties in learning English of Vietnamese students. Educa wants to help young people who do not have economic conditions can still be fluent in English. Educa has built the first product called “Edupia – High quality online English for elementary students”. After 3 years, Edupia recorded rapid growth. It now has 500,000 paid users. It also wants to reach out to new markets in Southeast Asia.
Established in 2018, Educa uses technology to mitigate challenges in learning. It provides online English teaching lessons to students with international standards. The startup is developing programs for target groups to learn English by themselves. For example, Babilala, a European standard English program for children 3-8 years old, or Edupia Tutor, an online tutoring program. Tran Duc Hung, General Director of Educa said that they will continue to research and deploy the most modern and advanced models to help Vietnamese students have the opportunity to learn English easily and with quality. Educa will invest heavily in technical infrastructure and product research towards the goal of product internationalization, “attacking” Southeast Asian markets.
About Redefine Capital Fund
Redefine Capital Fund is backed by Alibaba and Ant Financial with hundreds of millions of dollars. At the end of 2020, the fund invested $50 million in Seedcom, which operates coffee chain The Coffee House and women’s accessories chain Juno. Additionally, this fund is famous for two investments that contribute to building two unicorns, Flash Express (Thailand) and KKGroup (China).
Sources of information include DealstreetAsia and Diendandoanhnghiep.