Asean Dealbook: ESP Capital backs Vietnam’s MindX; Jakarta’s TouchTen nabs funding

In recent deals in Southeast Asia, Vietnam-based edtech startup MindX has raised fresh funding from ESP Capital, while Jakarta-based mobile games developer TouchTen has raised undisclosed funding from Prasetia Dwidharma.

Vietnam’s edtech startup MindX raises fresh funding from ESP Capital

Vietnam’s edtech startup MindX has raised $500,000 in its first funding round led by homegrown venture capital firm ESP Capital and a number of other individual investors, according to an announcement.

Founded in 2015, MindX, formerly TechKids, is a school chain for imparting new technology skills such as programming, robotics, design, 3D drawing, etc. It also has a coworking space business.

The proceeds will be used to open new centres in Ho Chi Minh City and also to upgrade the current syllabus of designing, 3D drawing,  and VR/AR.

ESP Capital is focused on investing in seed-stage startups in Vietnam and Southeast Asia. Since its inception in early 2017, ESP Capital has invested in 15 companies including Luxstay.net, Ecomobi.com, Wefit.vn, Uiza.io, etc.

In recent education sector deals in the region, Vietnamese education startup Everest Education banked $4 million in a Series B round led by Hong Kong-based private equity firm Hendale Capital.

And, Hanoi-based edtech startup Edmicro raised an undisclosed amount in a pre-Series A funding round led by Insignia Ventures Partners.

Games developer TouchTen raises fresh funding from Prasetia Dwidharma

Jakarta-based mobile games developer TouchTen announced on Monday that it has raised undisclosed fresh funding from an investment firm Prasetia Dwidharma, according to an e27 report.

The round was also backed by Sheila Tiwan, CEO of Carsurin, and Indra Leonardi, the CEO of Kingfotoroup. Existing investor CUEBIC, a Japanese digital marketing firm, also participated in the round.

The fresh funding will be used to develop content to boost the number of female gamers in Indonesia.  TouchTen claims that its revenue rose 238 per cent, while its user base grew 93 per cent in the past year.