Malaysia-based travel education startup BeED (Beyond Education) that mixes tourism and alternative learning in a novel way, is looking to expand its footprint to neighbouring countries in the next two years, before it goes for a funding round that will fuel a pan-Asia expansion for the startup, an executive with the company said.
The company earlier this month launched a location-enabled mobile application – BeED Education Travel App – that provides an experiential learning experience to learners and adults of all ages. In short, BeED is creating a marketplace for schools, travel agencies, educators and learners.
Founded by Michael Chian and other team members Jimmy Koay and Glavinder Singh, the company is now in its second year of operations and has also been profitable, Koay told DEALSTREETASIA in an interaction last week.
The newly launched app was developed by Chian along with co-founders. The company which was started with founders’ personal funds, has previously received RM2.8 million in seed funding from a Malaysian corporate that has diversified business interests.
Further, with regard to its business expansion plans, this year it aims to expand its presence in Singapore and Hong Kong and in 2018 it plans to enter the Indonesian market. In 2019, the firm will go to Taiwan, and by then, it will also have content in Mandarin in addition to existing English, Koay said.
“Our plan is to go to Korea and Japan in 2020 and that is a time when we will need bigger funds. We will need an investor who can fund that expansion but more than that we need somebody who has experience and expertise in the area of business,” Koay added
The firm eventually wants to be present in countries that include India, China and later Europe and US where it feels the market for travel education is very lucrative. The business, which is one of its kind does not seem to have any competitor yet in Malaysia or the region, the company claimed.
BeED’s recently launched Travel Education application is a location-enabled interactive application for on-demand learning students who are travelling, whether abroad or within Malaysia, and it enables them to select a host of subjects from their syllabus and be guided through an interactive learning experience about particular places of interest through their mobile devices.
The app currently provides educational content in Malaysia, Indonesia,Thailand, Vietnam Singapore and China.
It also features an all-in-one travel booking platform for flight, accommodation, ground transport and travel insurance as well as an itinerary planner that organises travel plans and learning experiences with real-time traffic conditions.
The company is in the midst of obtaining its MSC status at the moment, a recognition by the Malaysian government through the Malaysia Digital Economy Corporation (MDEC), for ICT and ICT-facilitated businesses that develop or use multimedia technologies to produce and enhance their products and services.