MindX, a Vietnamese education technology startup, has raised $15 million in its Series B round led by education-focused private equity fund Kaizenvest. The funding round also saw participation from Thailand-based education firm Aksorn, Japanese HR firm Mynavi, and existing investor Wavemaker Partners. The company also receives debt financing from Beacon Fund, an impact investment startup focusing on women-owned and women-led businesses in Southeast Asia.
With the fresh capital, the startup plans to develop its portfolio of products and services, hybrid learning experience, and data-driven systems. It also aims to connect Vietnamese tech workers with employers in other parts of the world, such as the US and Europe.
Founded in 2015 by Tung Nguyen, Ha Nguyen, and Huy Nguyen, MindX prepares people for tech careers through education and job matching. The firm claims that it has graduated over 35,000 students of all ages. The platform has more than tripled its geographical coverage to over 32 campuses across Vietnam, making it the largest coding education in the region. It aims to help students, especially those in primary and secondary schools, learn and experience skills comprehensively, integrating theory and practice in a startup environment.
Speaking about the company, Co-founder & CEO of MindX, said:
Innovators and creators are nurtured, not born. Today, we would like to prepare young learners with the skills and mindset needed to create innovative tools, technologies, and even unknown jobs to address unknown challenges of their times.
MindX has partnered with over 200 companies in Singapore, Australia, Thailand, and other countries to provide global access to the digital workforce from Vietnam.
Commenting on the fundraising, Founder & Managing Partner of Kaizenvest, Sandeep Aneja, added:
The company is well-positioned to lead Vietnam’s coding and digital skill space. We believe this investment fits the future of learning themes and is a testament to our confidence in the growing demand for technology courses across Southeast Asia.
In 2021, MindX raised $3 million as a part of its Series A funding led by Wavemaker Partners. Vietnamese investment bank Thien Viet Securities and an undisclosed United States-based investor also participated in this round. Before that, the company had raised $500,000 in a funding round led by homegrown venture capital firm ESP Capital in 2019.
