Azota, a Vietnam-based education technology company, has raised $2.4 million in its pre-series A round led by GGV Capital.
The round was also backed by new investor Nextrans and existing backer Do Ventures.
With the fresh capital, the company plans to improve its system performance and develop new features for its products. It aims to become a holistic teaching platform for hybrid learning in the post-pandemic era.
Co-founded in 2021 by Dai Nguyen, Hung Le, and Au Nguyen, Azota is an online platform that lets teachers create and grade tests automatically. The platform offers teachers automated test creation and assessment solutions, exam proctoring tools, and real-time student performance tracking. All test results are stored and analysed on the Azota system, making management much more convenient for teachers and schools.
Talking about the company, Co-founder & CEO of Azota, Au Nguyen, said:
"Our vision is to help teachers use their time and energy in new ways. We believe that by being able to reduce labour-intensive tasks, teachers could better spend their valuable time on impactful actions such as working more closely with individual students or creating more engaging lessons for their students."
The startup said it has a user base of over 700,000 teachers and about 10 million students nationwide. Since its inception, the platform has seen approximately 300 million exercises submitted through its system.
Commenting on the funding, Global Managing Partner of GGV Capital, Jixun Foo, said in a statement,
"Our partnership with Azota is underpinned by our commitment to team up with local founders who dedicate themselves to solving the foundational problems of our time – education being one of them. Using technology to empower teachers to teach better, Azota makes great education accessible to millions of students. They can unleash the true potential of teachers to groom the next generation of Vietnamese youth."
Vy Le, General partner, Do Ventures, added:
"We are delighted to continue our investment in Azota. We are thrilled to support an inspired and driven founding team from the beginning, and see them evolve with a vision to transform education."
Vietnam is one of the fastest-growing EdTech markets in the world, with total revenue en route to reach US$3 billion by next year. It sees a compound annual growth rate of 20.2% from 2019 to 2023.