Vietnamese Edtech startup receives 2 mln USD from Alibaba-backed capital fund

Founded in 2018, Educa Corporation uses technology to tackle challenges in learning English for Vietnamese students. (Photo: vneconomy.vn)

Hanoi (VNA) – Educa Corporation, a Vietnamese educational technology (Edtech) startup, has raised 2 million USD in a Series A funding round from Singapore-based ReDefine Capital Fund.

Founded in 2018, Educa Corporation uses technology to tackle challenges in learning English for Vietnamese students. Its flagship offering is Edupia, an English learning app targeted primary school students.

Three years after the debut, Educa now has half a million paid users. With the new funding, the corporation plans to heavily invest in infrastructure development and R&D with an aim of achieving two million paid users, out of 20 million Vietnamese students, by 2025.

It also wants to reach out to new markets in Southeast Asia.

The company has been developing a number of new products targeting new customer segments, including Educa Tutor and Babilala – an English self-learning app for kids aged 3 – 8.

ReDefine Capital Fund is backed by Alibaba and Ant Financial with hundreds of millions of USD. Last year, it invested 50 million USD in Seedcom, which operates coffee chain The Coffee House and women’s accessories chain Juno./.

VNA