Digital Biz

Education technology (edtech) startups are evaluated as having substantial potential given that Covid-19 and the “new normal” have boosted demand for online learning. Vietnam is in the top 10 fastest-growing edtech markets in the world, posting 44.3 per cent.

M Village, a startup providing short- and long-term accommodation solutions, has raised $1.7 million in capital from Simple Tech Investment, Vulpes Ventures, Genesia Ventures, and other angel investors. M Village will use the capital to invest in technology, increase utilities for residents, and expand to many districts in Ho Chi Minh City.

The startup Insider has been valuated at $1.22 billion and has received Series D funding of $121 million. Headquartered in Singapore, it was established in Vietnam in 2017 with over 35 experienced and highly specialized personnel. It is a strategic partner of nearly 100 businesses, such as VPBank, MBBank, ACB, Bamboo Airways, Vietnam Airlines, BE, Viettel Money, and Vinpearl.

Vietnam’s e-commerce market is posting annual average growth of 17 per cent and by 2025 will reach $57 billion. With more than 97 per cent of enterprises being of micro, small, or medium scale, however, local players still find it difficult to grasp the opportunities on offer. The greatest challenge is a lack of capital to invest in information technology infrastructure.

The Ministry of Information and Communications is piloting the deployment of a “community digital technology team” in localities to promote digital transformation and bring people to the digital environment so they can pioneer the use of digital platforms and digital technology, thereby becoming drivers to promote the government’s stronger digital transformation.

Do Ventures has announced an investment in Ringle’s Series A funding round to support the company's expansion in Vietnam. Headquartered in Seoul, South Korea, Ringle provides online English tutoring services with a team of tutors from leading US and UK universities beginning to serve Vietnamese users from this year.