Illustrative image (Photo: vneconomy.vn) Hanoi (VNA) – While many businesses have been forced to shut down due to COVID-19, Edtech firms have been emerging and attracting investors’ attention as many people tend to switch to online learning.
In March 2020, ELSA, an Edtech startup, opened its system for people to access free English pronunciation lessons, resulting in soaring numbers of visits and installations. In February this year, the platform had dozens of millions of users and successfully secured an investment of 15 million USD.
In June, the educational group EQuest unveiled that it received a sum worth up to 100 million USD from the leading global investment firm KKR.
A report by Do Ventures, a venture capital fund focusing on the technology sector in Vietnam and Southeast Asia, showed that Vietnam is the most attractive investment destination in the region. It predicted in the coming time, investors will focus on education, health care, and financial services.
Illustrative photo (Source: VNA) According to Le Hoang Uyen Vy, CEO of Do Ventures, Edtech has four major segments, which are content (pre-recorded lessons in the form of videos or question banks), live-class (online classes with teachers), OMO (Online Merge Offline model), and B2B (business to business marketing methods).
The first phase of Vietnam's Edtech market, emerging from content, starts to move to the live-class segment, she noted.
The expert said under the COVID-19 impact, online learning has become essential and it is a good time for Edtech startups to create breakthroughs./.
