NativeX, an emerging EdTech startup, has announced securing a total of $4 million in funding within just eight months since its inception.
The company, which focuses on revolutionizing English language learning for working professionals in Vietnam, completed its seed funding round with an additional $2.5 million. This round was co-led by Ansible Ventures and Blueprint Ventures, with Northstar Ventures among other investors participating.
The startup initially raised $1.5 million from angel investors through SAFE instruments in June 2023. This rapid accumulation of capital underscores the market’s confidence in NativeX’s innovative approach to addressing the English proficiency needs of Vietnam’s workforce.
The company aims to leverage this investment to expand its services across Southeast Asia, starting with Vietnam’s ambitious goal of enhancing English learning for 10 million busy professionals.
Valerie Van V., Founding Partner at Ansible Ventures, highlighted the critical need for upskilling in Vietnam’s education sector. She pointed out Vietnam’s comparatively low labor productivity and emphasized the importance of investing in local talent to maintain competitiveness in the manufacturing sector and beyond.
“We are excited to co-lead this NativeX seed round and firmly believe in the company’s potential to empower top Vietnamese talents as they advance in their careers,” she stated.
Echoing her sentiments, Huiting Koh, Founding Managing Partner at Blueprint Ventures, praised NativeX for addressing a significant barrier for Vietnamese professionals aiming to advance their careers. Koh emphasized the product’s strong market fit and its early success in engaging users and maintaining impressive user metrics. “We are excited to partner with our esteemed co-investors and back this experienced management team to build a trusted and credible education technology brand for adult English learning in Vietnam,” Koh added.
NativeX distinguishes itself with a unique, content-led approach to curriculum design and a flexible group class model, catering to the diverse schedules of working professionals. The startup plans to use 80% of the seed funding to further product development, including the launch of a new conversational English program integrated with soft skills training.
With Vietnam becoming a more attractive destination for multinational corporations, the demand for higher English proficiency is escalating. NativeX’s innovative platform aims to meet this demand, supporting local workers in capitalizing on better employment opportunities and contributing to the country’s growth in the global market. – PEVCJournal.com