Vietnam-Based Edtech Company MindX Hopes To Create “Little Silicon Valleys” There
- With coding instruction educational centers that aid in preparing students of all ages for careers in tech, the startup wants to establish "small Silicon Valleys" throughout Vietnam.
- According to the startup, Kaizenvest, led the $15 million Series B fundraising round that the edtech company announced today.
- In order to expand Vietnam's digital talent pool, the new financing will be used to grow MindX's product portfolio, hybrid model, and tech tools.
MindX was established in 2015 to address the absence of coding instruction in Vietnamese school curricula. The startup wants to establish "small Silicon Valleys" around Vietnam, complete with educational institutions that aid in preparing students of all ages for careers in technology.
Since TechCrunch covered MindX's Series A fundraising in November 2021, the company has graduated 35,000 students, quadrupled the size of its geographic coverage to 32 campuses around Vietnam, and established connections between students and employers in Australia, Thailand, the United Kingdom, and soon the United States. According to the startup, the area's largest coding school.
A private equity company that specializes in the education sector, Kaizenvest, led the $15 million Series B fundraising round that the edtech company announced today. Other investors included Wavemaker Partners, a returning investor, the Japanese HR company Mynavi, and the Thai education company Aksorn. Another round of debt financing for MindX came from Beacon Fund, an impact investing company that prioritizes Southeast Asian companies run and owned by women.
Beyond coding, MindX now offers educational programs in popular fields like blockchain, data analytics, and UI/UX design. With the intention of covering 45 cities by June, it also started expanding into Tier 2 and Tier 3 cities like Ha Long, Da Nang, and Bien Hoa. Nguyen Thanh Tung, the company's founder, told TechCrunch that before additional campuses were established, many MindX students in those areas were taking classes digitally.
MindX offers an entrepreneurship curriculum with classes on marketing, fundraising, and other business skills for students taking longer courses. Students use their newly acquired abilities on projects like websites, mobile apps, and games towards the end of the semester. The co-founders of MindX and representatives from venture capital firms will thereafter be on a panel where they can submit their investment requests.
In order to expand Vietnam's digital talent pool, the new financing will be used to grow MindX's product portfolio, hybrid model, and tech tools. In addition to fostering gender equality in its courses by providing scholarships for female students, Nguyen stated that MindX will concentrate on creating recognized programs.
Adapted from TechCrunch