Vietnamese technology education startup receives investment of 15 million USD

MindX, which specializes in training technology skills and programming for Vietnamese people, has just received an investment of 15 million USD from a Singapore fund.

The MindX representative said the round was led by Singapore-based Kaizenvest. This fund has poured capital into many famous startups in the field of education technology (edtech), including the unicorn Byju's and upGrad of India, the Yola English center system. Other investors participating in this round include Thai education group Aksorn, Japanese human resources group Mynavi and Wavemaker Partners and Beacon Fund.

MindX was founded in 2015 in Hanoi, specializing in training technology skills for Vietnamese people of all ages. The project currently has campuses in many cities, combined with training through online classes in technology and programming, such as blockchain programming, data analysis, UI-UX design, software testing. .

In November 2021, this startup successfully raised $ 3 million in a Series A round.

A class of MindX.

Sandeep Aneja, founder of Kaizenvest Foundation, assessed the increasing demand for technology learning in Vietnam in particular and Southeast Asia in general. "This investment is commensurate with the market potential and our belief in today's growing need for tech learning," Aneja said.

According to Mr. Nguyen Thanh Tung, co-founder and CEO of MindX, equipping the skills and mindset to apply new tools and technologies is the way for Vietnam to have a pioneering generation of innovation. As a result, the younger generation can be ready for things that may not yet appear, solving challenges that have never existed, in today's constantly changing and evolving technology landscape.

With the above capital, this education startup said it will expand the scale and portfolio of products and services, optimize user experience and data systems. MindX currently establishes a network of partners with more than 200 businesses in Singapore, Australia, Thailand..., allowing the world access to a high-quality digital workforce from Vietnam. The company also aims to connect Vietnamese technology personnel with employers in many other countries, including the US and Europe.

MindX's $15 million is one of the largest funding in the field of educational technology in Vietnam since the beginning of the year. Previously, the e-Conomy report of Google and Bain&Company showed that investment activities for startup projects in Vietnam tend to decrease continuously in the period 2021-2022, reaching $0.7 billion in the first half of 2022. Investors are also more cautious when pouring capital at a later stage. Although the number of deals increased, the value of deals fell sharply.

Luu Quy