Vuihoc, a Vietnamese education technology company that provides high-quality online courses for elementary, middle, and high school students, announced that it has raised $2 million in a bridge funding round led by Ant Group-backed Bace Capital, with participation from Vulpes Ventures, DT&Investment, Colopl Next, and Nextrans.
With this fund, the firm plans to work for product development and user acquisition purposes, with a target of getting 1 million paid users by 2024. It also aims to close a series A funding round by the end of this year.
Founded by Lam Do and Thu Do in 2019, Vuihoc offers an education platform for K-12 students in the country. The startup provides 400,000 learning materials, which range from videos to quizzes. It also offers live classes that enable students to learn in private or in small groups with teachers where they can get instant feedback. The company currently operates 1,000 classes daily.
At Vuihoc, with the most advanced technology, the platform strives to offer a comprehensive learning space that not only helps students grasp knowledge, but also help them to be excited to learn with new experiences. The lectures are lively, close to reality and the system of diverse exercises is suitable for the thinking level and forte of the students. It has partnered with top teachers, experts in the field of education and technology, seeking to apply the most advanced educational methods in the world such as Mastery learning, Individualization, Blended solutions, Ebbinghaus into the reality of educational programs in Vietnam.
Vuihoc has recently hired Travis Richard Stewart, a former Director. CEO of Vietnamese education organization Apax Holdings, serving as Vice President of Academy and Strategy for the company.
Last year in August, venture capital fund Do Ventures had also announced an investment in Vuihoc. This is the first funding round of this EdTech startup after two years of operation.