VUIHOC Raises $6 Million in Series A Funding Round Led by TNB Aura
Source: TNB Aura
Hanoi, Vietnam - July 31, 2023 – Education Technology startup VUIHOC secured a $6 million investment in its latest Series A funding round led by TNB Aura. TNB Aura was accompanied by notable participants including TKG Taekwang, IBK-STIC Pioneer fund, and existing investors such as Do Ventures, BAce Capital, and Vulpes.
VUIHOC is one of the leading online education platforms serving K-12 Vietnamese students, with more than 1.1 million accumulated users and most coming from Tier 2 and 3 cities. VUIHOC provides comprehensive access to a diverse range of educational content, with a remarkable inventory of over half a million resources including video lectures and quizzes.
Vietnam's EdTech sector is experiencing a surge in investment commensurate with its potential, with total investments in the first half of 2023 surpassing that of the entire year of 2022, according to the “Vietnam Innovation & Tech Investment Report 2023”. VUIHOC has firmly established itself as one of the frontrunners in this fast-growing industry, demonstrated by its ability to raise consecutive rounds from institutional investors and serve students in all provinces across Vietnam since 2020.
VUIHOC has made significant advancements in product development following its last funding round in September 2022. Notably, the company has introduced interactive livestreaming classes with large group sizes, enhancing student engagement and fostering dynamic learning experiences. Furthermore, VUIHOC has broadened its content offerings to encompass the K-12 curriculum, ensuring alignment with the national standards.
"Affordable and quality education needs to be accessible to everyone. 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. This has been our guiding principle for the past 4 years and we can see the positive results in our students. With support from our investors, we are excited about the next 5 years and the even bigger positive impact we can make in students' lives for their future and for the Vietnamese education industry," said Do Ngoc Lam, CEO of VUIHOC.
With the fresh funding, VUIHOC aims to further enhance its product offerings and leverage the application of AI technology. The company will concentrate on harnessing the power of AI to offer personalised learning experiences that are specifically tailored to meet the individual needs of students. In addition, VUIHOC is committed to cultivating a thriving company culture including enhancing employee benefits, thereby ensuring a supportive environment for its dedicated team.
Charles Wong, Founding Partner of TNB Aura, commented: “We are proud to support Lam and Thu in delivering high quality and readily accessible education to students across Vietnam. With more than 21 million K-12 students across the country, and almost 80% living outside Tier 1 cities, VUIHOC is uniquely positioned to help uplift educational standards across the board.”
In the coming year, VUIHOC has set ambitious goals to further enhance its product portfolio, integrating cutting-edge technologies to provide students with highly effective and captivating learning experiences. Charles Wong commented, “VUIHOC’s tech infrastructure has allowed it to capitalise on a flywheel of high-quality education delivered at scale, attracting the best educators across the country, which in turn drives some of the best unit economics seen in the region.”
At TNB Aura, we are investing in and helping to build the future of Southeast Asia. As a thesis-led, high-conviction venture capital firm, we use data-driven methodologies to identify and invest in select companies that are primed for the future and ready to change the very face of their categories.
We invest US$2-10 million into Series A and B tech startups - and beyond that, we become true partners in their quest to uplift lives of #TheNextBillion.