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 Vietnameseeducational technology (Edtech) startup, has raised 2 million USD in a Series Afunding round from Singapore-based ReDefine Capital Fund.

Founded in 2018, Educa Corporation uses technology totackle challenges in learning English for Vietnamese students. Its flagshipoffering is Edupia, an English learning app targeted primary school students.

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

It also wants to reach out to new markets in SoutheastAsia.

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

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

VNA