English language learning start-up Educa has raised $2 million in a Series A funding round from Redefine Capital Fund, the Singapore-registered arm of Alibaba-backed eWTP Technology Innovation Fund, VnEconomy has reported.
Educa was founded in 2018 and aims to use technology to help Vietnamese students who cannot afford expensive language schools to master the English language.
Educa launched its Edupia online product three years ago, which has 500,000 paid users.
Tran Duc Hung, general director of Educa, said the company will continue to research and deploy the most modern and advanced models in the field of English training and the will use the investment to invest in technical infrastructure and research new products with the goal of securing two million paying users out of a total market of 20 million Vietnamese students by 2025.
Date published: 7 July 2021