MindX, a Hanoi-based EdTech startup focused on training tech skills, has raised $3 million as a part of its Series A funding led by Wavemaker Partners, with the participation from Vietnamese investment bank Thien Viet Securities and an undisclosed United States-based investor.
MindX also received debt funding from Beacon Fund, an investment firm that focuses on companies founded by women.
With the new financing, the company plans to expand MindX’s online platform, create more educational content and expand into Vietnamese Tier 2 and 3 cities and rural provinces. It also plans to build its network of tech companies that offer jobs to students who complete its courses.
Founded in 2015 by Tung Nguyen, Ha Nguyen, and Huy Nguyen, MindX courses are focused on kids ranging from kindergarten to grade 12, and university students, too. The subjects are application programming: website, mobile, games, data science subjects, UI/UX design and artificial intelligence etc, tailored for each age group. Students can choose from short-term courses for introduction, or choose long-term pathways that guarantee employment after graduation. In particular, students have the option of learning first - paying later, without paying tuition fees until they find a job with the desired income.
MindX aims to help students, especially those in primary and secondary schools, to learn and experience skills in the most comprehensive way, integrating theory and practice in a startup environment.
The startup also builds a development roadmap for students and employees, helping all students secure jobs at technology companies in Vietnam, Singapore, and other countries as soon as possible. graduate.
Speaking about the company, Co-founder and CEO of MindX, Tung Nguyen, said, "One concern for parents with low-income levels is that they want their kids to have a guaranteed job placement, but they don’t want to run out of money for tuition. They asked for financing solutions and we plan to implement the income sharing model by the end of this year for our students."
Many MindX graduates are currently working at leading technology companies in the region such as Google, Shopee, and Amazon with a salary of 6,000 - 15,000 USD/month. Middle and high school students after studying at MindX also have a list of domestic and international technology awards as well as scholarships to study abroad to top schools in the US, UK, and Singapore.
Commenting on the investment, Wavemaker general partner, Gavin Lee said, "We’re excited to back the MindX team with their vision to revolutionize Vietnam’s tech education landscape and unlock career opportunities for 20 million K-12 and university students. MindX is addressing a clear need, given the worsening shortage of software engineers in Vietnam."
MindX currently has 13 centres and has trained more than 25,000 students through two forms: on-campus offline and online programs.
The startup partners with 200 tech companies in Vietnam, Singapore, Japan and other countries to help find jobs for its students after they complete training.
In October 2019, MindX had raised $500,000 in a funding round led by ESP Capital Investment Fund, with participation from other individual investors.