Investment inflows into Vietnam’s EdTech market in recent years have been robust, recording a surge in 2021 with about $158 million for 11 deals.
The most notable is the investment of $100 million in Equest Group from the KKR (USA) investment fund, $15 million in Elsa Speak from Google’s investment funds and Clevai, and $3 million into MindX from Southeast Asian Wavemaker Partners venture capital fund.
Compared to 2020, when there were only three deals with a total investment value of about $20 million, the investment amount in the EdTech field in 2021 was really impressive.
Assessing the potential of Vietnam, at a recent event, Ms. Alicia Cheong – Co-Founder and COO of Geniebook (one of Singapore’s leading EdTechs) – said that before Geniebook entered the Vietnamese market, this company had conducted an exploratory digital communication strategy. The results were quite surprising when parents in Vietnam were very open to online learning.
Since the beginning of 2019, Geniebook has achieved impressive revenue growth of more than 2,000%, with the number of users in Southeast Asia continuously increasing, reaching more than 220,000 people. In Vietnam alone, Geniebook’s revenue has tripled compared to 2020.
Of course, the potential market will come with many competitors. Moreover, Vietnamese parents pay great attention to their children’s results and future. Therefore, EdTech businesses need to know this to achieve the best results.
Source of news: febis
Source of image: Edtech Agency
Read more news: https://edtechagency.net/