In its very first funding round led by homegrown investment fund ESP Capital, the Vietnamese edtech startup, MindX has managed to secure funds worth US$500 k, with other individual investors joining the funding round with ESP Capital.
According to the CEO of ESP Capital, Mr. Le Hoang Uyen Vy, there is great potential in MindX’s business model both with respect to meeting the market’s requirements and scope for expansion.
Originally, MindX was known as TechKinds when it commenced operations for the first time in the year 2015 as a chain of schools. The focus of the chain was to utilize robotics, design, programming, 3D drawing kinds of technology skills.
The co- founder and CEO of the edtech, Ngyuyen thi Thu Ha shared that in order to select the most suitable method that fits Vietnamese students’ culture and learning style, they have been collaborating with the best schools across the globe, in countries such as the United States, South Korea and Singapore.
Integrating theoretical learning with practical knowledge in the most comprehensive manner to help students of elementary and middle schools learn and experience skills is a special goal of MindX. Programming mobile apps for both studying and entertainments can be taught to students from the tender age of six, successfully according to the edtech.
With over 8,500 students and working adults being trained across five centers of MindX in Ho chi Minh City and Hanoi, it has had many of its students achieve awards and accolades on national as well as international examinations including ACM and ISEF. Scholarships for studying in countries like the United States and South Korea have also been earned by many of its students.
A co- working space is also offered by MindX for startups. The newly secured capital will be utilized by MindX to scale up by opening new centers and advance the current syllabus.
Andrew Gray is a drug policy researcher affiliated with the Faculty of Human and Social Development at the NYU School of Medicine in New York University, New York, NY 10016, United States.