Learning Technology is the beautiful present and the upcoming future of the world for students. Many ed-tech institutions are switching from traditional to practical and technical knowledge. Vietnam-based MindX is also on the same side as the decline in workers in the tech industry.
The start-up recently raised $ 3.3 Million in a series A funding round for training the students based on growing tech and programming. The announce of the recent funding was officially made by the company itself. As per MindX 3.3M series WavemakerShutechcrunch
This investment round was conduct by Wavemaker Partners, Thien Viet Securities, and Beacon Fund also raised a debt funding round for the same. The Hanoi-based firm hasn’t revealed all of its investors, and information about some of them is confidential yet.
MindX was found by Tung Nguyen and Ha Nguyen in 2015 as an educational institution. The duo founded the company with the motive of expanding Technical knowledge among students ranging from playgroup to university students, for all age groups. As per MindX 3.3M series WavemakerShutechcrunch
The start-up was found as a non-profit organization in the starting. From teaching part-time in an education organization to starting their non-profit organization is a commendable journey for both of them. Currently, MindX is one of the best coding and technical training institutes all over Vietnam with overall 13 centers across the country. However, the company is not entirely based physically but also provides a virtual learning facility.
The major difference between MindX and other ed-tech institutions is the tenure of the learning programs, which in the case of normal institutions is of three to four months or lastly six months, but in the case of MindX, the thing is different, according to the co-founders.
There are courses of expertise in multiple domains and technologies such as Artificial Intelligence, Full Stack Web Development, UI/UX, Data Analytics, and competitive coding. From training their students on various technologies to making them job-ready and getting them place in top tech companies, the start-up is playing a major role in shaping student’s life, increasing the scope of technology in the country, and also fulfilling the needs of IT. Not limited to Vietnam-based students, it helps in boosting the career of students from multiple countries such as Japan, Singapore, etc. As per MindX 3.3M series WavemakerShutechcrunch
They focus highly on providing practical and hands-on coding knowledge to their students and have successfully trained about 25000 school and university students and providing them with career opportunities in top-tier companies such as Google, Amazon, and others.
Tung Nguyen, Chief executive Officer of MindX, said that this program is suitable for students who want their definite career and tech and have low income, so the company is planning to build the courses to cater to the needs of such parents by providing them pay after placement courses.
The co-founders also expressed their views on their start-up by saying about the lack of technical knowledge at that time due to financial problems and they don’t other students to feel the same for the sake of money as at that time his family couldn’t afford the same and no such companies for the same purpose were there. Surely, they have a great approach and motive behind opening the company.
Tung was never interest in his college and drop out in the very first year of his university to learn coding which shaped his life. He said that after learning and practicing programming himself, he got a well-paid job at a reputed IT company in Germany. About the recent funding, CEO Tung Nguyen said that they are focussing more on Pay after-placement courses to lessen the financial burden on the parents who have a comparatively low income than others.
The latest $3.3 Million funding round will help the company expand its operations in other cities as well as remote areas of Vietnam. With this, they are introducing the concept of Paying after successfully getting a job with the promised minimum package or more. In this, the student doesn’t need to pay any direct fee to the company till they get place and after getting place they have to pay the amount decide at the time of signing the agreement for the mentioned tenure.
According to the founders of MindX, the firm has shown immense growth in its expertise area and will be expanding the technical subjects and domains too in the future after including more technologies in the curriculum. This funding round will also increase the quantity of content produced on an everyday basis.
Wavemaker Partners which also served as a primary funding member for this deal is a venture capital funding company established in 2003 and headquartered in California while Thein Viet Securities majorly deals in brokerage, investment consulting, and investment services having multiple clients worldwide. The debt funding company Beacon fund is a USA-based funding organization.
Gavin Lee conveyed his views on the recent funding saying, they are very excited to fund the ed-tech organization as Wavemaker also wants to upskill tech education in the country for the different age groups of students. He also said that MindX is working in the right direction to fulfill the tech engineers shortage in Vietnam.
Along with this $3.3 Million group A funding round, the ed-tech start-up also raised $500 thousand in a seed funding round primarily capitalized by ESP capital investment fund. As per MindX 3.3M series WavemakerShutechcrunch
Providing practical tech knowledge to students will help shape the country’s future as technology is the need of the future. The start-up is doing great in making technical knowledge easily accessible and the new investment is an add-on benefit to the organization.