Vietnamese edtech startup Edupia has raised $14 million in a Series A funding round led by Singapore-based venture capital firm Jungle Ventures, according to a statement.
This confirms a DealStreetAsia report in May that Educa Corporation, which operates edtech startup Edupia, was raising a new funding round with Singapore’s venture capital firm Jungle Ventures joining as an investor.
Other investors participating in this round include Alibaba-backed eWTP Capital and homegrown VC firm ThinkZone Ventures.
The fresh funding round brings the total capital raised by the company to $16 million since its inception.
The company intends to use the fresh round of funding for strengthening its tech stack, hiring across key positions and regional expansion.
Founded in 2018 by Tran Duc Hung, Edupia’s mission is to provide an easy and accessible English-learning platform to eliminate language-based inequalities and build a more globally competitive talent base. Edupia’s English-learning platform is targeted at kids under six as well as primary and secondary students.
The company claims it has over 5 million users to date. In addition to Vietnam, other Southeast Asian markets such as Indonesia, Thailand and Myanmar have also shown great demand for its solutions.
“Language should not be a barrier to opportunity and access. Edupia bridges the big education gap among students between metros and lower-tier cities. Today, over 90% of our students come from tier 2, 3 and 4 cities in Vietnam and we aim to contribute to the English skills of the 20 million K12 students in the country. We are extremely proud to partner with Jungle Ventures in our mission to build the largest regional online education platform in Southeast Asia,” said Tran Duc Hung, founder of Edupia.
“Edupia is Jungle’s second edtech investment in the region, after LEAP (in India). Through its tech-enabled solutions, Edupia addresses the gap in education and teacher quality among cities/provinces in Vietnam,” said My Tran, VP investments at Jungle Ventures.
Going forward, Edupia’s strategy is to focus on products for K12 students. The company also plans to innovate on new technology features and solutions and expand to Thailand and Indonesia. It is further looking at expanding into other subjects such as math and IT (Coding) and plans to innovate on new technology features and solutions and expand to Thailand and Indonesia.
Singapore-based Jungle Ventures has been very active in Vietnam lately, with recent investments including electric motorbike startup Dat Bike, MSME-focused merchant platform KiotViet, social commerce startup Mio and digital bank Timo. The VC firm closed a $600-million fund in May this year for investments in Southeast Asia and India.
In August, DealStreetAsia reported that Jungle Ventures led an $8.5-million Series A funding round in Medici, a Vietnam-based healthcare and insurance platform.