🇻🇳 MindX wants to build ‘little Silicon Valleys’ across Vietnam | 🇮🇩 Cakap scores funding with $100M valuation | 🎓 HolonIQ introduces 4 new models of future universities
Edtech Asia Issue #6 (04.14.23)
This is a free newsletter for people around the world who want to stay updated on the latest news, trends, and happenings in the ed-tech sector across the Asian region. Please subscribe and hit the ❤️ button.
Hello there! I don’t have too much intro today as mixed news popped up this week—both uplifting and downgrading, you decide by checking them out below. If I relate it to Asian food, I call it 🍲Chopsuey—a Filipino stir-fried mixed vegetable dish. If you have any feedback or suggestions, email me at 💌 hey@thefutureofeducation.xyz
Thank you very much and let’s get started with the biggest news in Edtech Asia!
TL;DR
MindX wants to build ‘little Silicon Valleys’ across Vietnam
BlackRock reduced BYJU’s valuation by 50%
Eruditus has become the 2nd largest ed-tech company with $250 Million in sales
National Startup Awards in India is now open
Cakap scores funding that brought them to a $100M valuation
IxamBee bags $600k
Reach Capital, a US venture capital firm announced its largest fund to date, a $215 Million investment
HolonIQ introduces 4 new models of modern universities
The Role of Technology in personalized learning
Adaptive learning market to grow significantly by $22.9%
📰 Hottest News
Edtech MindX wants to build ‘little Silicon Valleys’ across Vietnam with $15M funding raised for Series B, says TechCrunch. MindX, the largest coding educator in the region was created to address the lack of coding in Vietnamese school curriculums. They are aiming to create “small Silicon Valleys’ in Vietnam as educational centers to prep up students of all ages for their careers in tech. 🇻🇳
BlackRock reduced BYJU’s valuation by 50% to $11.5 billion. BlackRock is a US-based asset manager that marked down their shares to BYJU from $4,660 per unit to $2,400. That’s half of the previous valuation of BYJU at $22 Billion. The reason has not been cleared out by both parties. 🇮🇳 🇺🇸
Meanwhile, Eruditus has become the 2nd largest revenue-grossing edtech company with $250 Million in sales! 🇮🇳
🇮🇳 National Startup Awards 2023 is now open for applications! Starting on April 1 up until May 31, National Startup Awards this year is accepting applications across 20 categories. Winners and finalists will get exclusive support, connections to investors and government agencies, access to the international market, and network with corporations and other huge companies.
FUNDINGS
Cakap scores funding that brought them to a $100M valuation. Cakap will use the fresh funds to develop a blended learning approach, allowing students to study online and offline. The startup currently offers upskilling and language-learning courses for children and adults through recorded videos and live sessions. 🇮🇩
IxamBee bags Rs 5 Crore ($600k) from IPV. This India-based startup is an online learning platform aiming to revolutionize the way students prepare for competitive exams by helping millions of students have access to exam papers and notes to prepare for their careers. Funds will be utilized in marketing, content, and technology. 🇮🇳
GLOBAL NEWS
🌍 Reach Capital’s partner, Esteban S. says “There’s never been a better time to start a company. Less capital means less competition: if you manage to build something, there’s 10 times more likely that you will have success.” Reach announced today that it has raised its largest fund to date, a $215 million investment vehicle to back early-stage startups based in the United States and abroad, with a specific eye on Latin America and AI ed-tech companies.
RESOURCES | REPORTS
🎓 HolonIQ four models of universities. Learn more about these from the webinar that took place in the past weeks.
📖 The Role of Technology in Personalized Learning by EdSurge News. What an ideal personalized learning space looks like? The shift from traditional to personal should consider investing first in teachers’ mindset not just in shiny tools. Students can learn well with a few relevant tools than having 50 tools all at once. You can also watch the webinar about this topic.
📈 Adaptive Learning Market Poised for Significant Growth with 22.9% CAGR, Driven by Increasing Demand for Personalized Learning.
Thank you for reading! If you find something useful that isn’t here, feel free to send it over to hey@thefutureofeducation.xyz.
Until our next issue,