Venture capital-backed Vietnamese edtech startup Dream Viet Education has sold majority stakes in two of its learning platforms, Kyna.vn and KynaBiz.vn, to HR service firm Navigos Group, the companies said in a joint announcement.
Financial details of the deal were not disclosed.
Kyna.vn is an online learning platform for adults while KynaBiz.vn targets the business segment. Dream Viet Education will transfer the online learning platform, including the operating system and the existing resources on Kyna.vn and Kynabiz.vn, to Navigos Group, the companies said.
Upon completion of the investment, Dream Viet Education will focus on its platform for children that provides online English tutoring and online video content. The company claims that its programme has reached over 200,000 children nationwide.
Dream Viet Education co-founder Nguyen Thanh Minh will assume the role of CEO at the Kyna.vn and Kynabiz.vn division of Navigos Group. While the HR firm will manage the e-learning business, Dream Viet Education will provide advisory support during the transfer.
The acquisition will help Navigos fulfill its goal of becoming a human resource centric ecosystem in Vietnam, said Gaku Echizenya, CEO of Navigos.
The startup raised a seed funding round from Japanese investor Cyberagent Capital in 2016. Earlier this year, Cyberagent Capital along with SEAF Women’s Opportunity Fund injected another additional capital into Dream Viet Education, which is said to have helped the company develop the platform for children.
Navigos, known as the operator of Vietnam’s largest recruitment website Vietnamworks.com, was acquired by Tokyo-based HR firm en-japan in 2013. The firm was founded by Jonah Levey, a well-known angel investor in Vietnam.