Vietnamese edtech startup MindX scores $15m in Series B funding

Vietnamese edtech startup MindX has announced raising $15 million in a series B funding round, led by education-focused private equity fund Kaizenvest, to continue its mission of nurturing and empowering Vietnamese innovators through technology.

Founded in 2015, MindX has graduated over 35,000 students of all ages, many now with successful technology careers in nearly 20 countries.

The company’s ecosystem encompasses education as the core business, as well as global job matching and startup space. MindX also continues to receive debt financing from Beacon Fund, an impact investment firm that focuses on women-owned and women-led businesses in Southeast Asia.

Other backers of the Series B round included Thailand’s education firm Aksorn, Japan’s HR firm Mynavi, and Series A lead Wavemaker Partners.

The new investment comes just a year after MindX closed nearly $3 million in Series A funding in November 2021. Since then, the company has more than tripled its geographical coverage to more than 32 campuses across Vietnam, making it the largest coding educator in the region.

MindX has also expanded its suite of course offerings beyond coding to other in-demand technology related skills such as blockchain, data analytics, and UI/UX design.

Most of its classes have adopted a hybrid learning model in the wake of the COVID-19 pandemic, giving students the flexibility to attend classes in-person or join virtually from home. This approach has been particularly impactful for learners in remote and mountainous areas, who may not have access to high-quality technology education.

“Our dream is to create a ‘Little Silicon Valley’ in every Vietnamese neighborhood, where everyone is empowered to create cool digital products that make the world a better place. It’s not just a physical space to unleash creativity; it’s a state of mind,” said Nguyen Thanh Tung, co-founder and CEO of MindX.

With the proceeds from the series B round, the company plans to further develop its portfolio of products and services, hybrid learning experience, and data-driven systems to scale up Vietnam’s digital talent pool.

It also aims to connect Vietnamese tech talents with employers in other parts of the world, including the US and Europe. MindX currently partners with over 200 companies in Singapore, Australia, Thailand, and other countries to enable global access to the digital workforce from Vietnam.