Vietnam edtech firm Vuihoc bags $6m in TNB Aura-led round

(From left) Vuihoc executives Travis Richard Stewart, Thu Do, and Lam Do / Photo credit: Vuihoc

Vietnam’s e-learning market is expected to hit US$3 billion in value by the end of the year. Increased internet accessibility, coupled with ICT advancements and the rise in smartphone users, is driving the growth of online learning in the country.

In a bid to capitalize on this demand, local edtech firm Vuihoc has raised US$6 million in its series A funding round led by TNB Aura. The fresh funds will be used to improve the company’s product offerings and invest in AI to offer personalized learning experiences for students.

Funding details

• Funding amount: US$6 million
• Lead investors: TNB Aura
• Other investors: TKG Taekwang, IBK-STIC, Do Ventures, Bace Capital, Vulpes Ventures
• Stage: Series A
• Source

Founded by Lam Do and Thu Do in 2019, Vuihoc has amassed over 1.1 million users, primarily from Tier 2 and Tier 3 cities. The platform offers educational content, including video lectures and quizzes, and has an inventory of over half a million resources.

The firm also offers live classes that enable students to learn in private or in small groups and where they can get instant feedback.

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“We believe that the support of technology will bring the best possible education to all students, especially those outside of big cities, giving them better opportunities for the future,” Do said in a statement.

Before its series A round, the company most recently raised US$2 million in a bridge round led by Bace Capital, an investment firm backed by Ant Group.

More details

Total$14M