VUIHOC, an edutech platform serving K-12 Vietnamese students, secured a US$6 million investment in a Series A funding round led by TNB Aura.

TKG Taekwang, IBK-STIC Pioneer fund, and existing investors such as Do Ventures, BAce Capital, and Vulpes also joined.

The startup will use the funds to enhance its product offerings and leverage the application of AI technology. It aims to harness the power of AI to offer personalised learning experiences specifically tailored to meet students’ individual needs.

VUIHOC claims it has over 1.1 million users, most coming from Tier 2 and 3 cities. It provides comprehensive access to diverse educational content, with an inventory of over half a million resources, including video lectures and quizzes.

Vietnam’s edutech sector is experiencing a surge in investment commensurate with its potential, with total investments in H1 2023 surpassing that of the entire year of 2022, according to the “Vietnam Innovation & Tech Investment Report 2023”.

Also Read: VUIHOC gets funding from Do Ventures

Since its last funding round in September 2022, the company has introduced interactive live-streaming classes with large group sizes, enhancing student engagement and fostering dynamic learning experiences. Furthermore, it has broadened its content offerings to encompass the K-12 curriculum, ensuring alignment with the national standards.

“Affordable and quality education needs to be accessible to everyone. We believe that technology support will bring the best possible education to all students, especially those outside of big cities, giving them better opportunities for the future. This has been our guiding principle for the past four years, and we can see the positive results in our students,” said Do Ngoc Lam, CEO of VUIHOC.

In the coming year, VUIHOC will enhance its product portfolio, integrating cutting-edge technologies to provide students with highly effective and captivating learning experiences.

Charles Wong commented, “VUIHOC’s tech infrastructure has allowed it to capitalise on a flywheel of high-quality education delivered at scale, attracting the best educators across the country, which in turn drives some of the best unit economics seen in the region.”

In August 2021, VUIHOC bagged an undisclosed amount in investment from Do Ventures. Over a year later, the company secured US$2 million in bridge funding.

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What happened to the devices that you no longer use? According to an NTU survey conducted in 2019, 64 per cent of respondents in Singapore hoard their old mobile phones and laptops.

“Many consumers purchase electronic devices on a constant cycle of upgrades and replacements. Despite their ‘old’ devices not being at all outdated when they upgrade, the devices languish at the back of cupboards and the bottom of drawers. All this has a significant environmental impact as far as resource consumption and electronic waste generation is concerned,” writes Circular CEO and Co-Founder Nick Ramsay in an email to e27.

This is where Circular steps in. The startup builds a subscription-based consumer electronics marketplace for Asia Pacific customers that aims to accelerate the adoption of the circular economy.

Backed by Y-Combinator, Circular says that it is able to help customers save up to US$745 with a 12-month subscription for devices such as an iPhone 14 Pro Max 128GB with damage cover.

Its catalogue includes gaming devices such as PlayStation 5 and Microsoft XBox. Apart from that, it is also looking to launch an “upgrader package” that allows customer to upgrade to new devices as they are launched or swap to new models.

Also Read: Climate tech startups can play a role in helping SMEs bridge sustainability, digital transformation: Paessler

“By shifting from a model of ownership to one of access, Circular encourages customers to use technology in a way suits their lifestyle. This approach maximises the useful lives of devices while minimising waste through refurbishment and safe recycling. Customers no longer need to take on short-term credit card debt, BNPL schemes, or long-term lock-ins with telcos. With Circular’s low-cost monthly subscription, people can experience the benefits of the latest technology at a fraction of the cost,” Ramsay explains.

The service is currently used by businesses such as climate tech startup Unravel Carbon, fintech company CardUp and digital media group GRVTY Media.

It is also a corporate partner with Go Green SG, a whole-nation movement led by the Ministry of Sustainability and Environment in Singapore.

Living the Circular economy

As a startup that aims to accelerate the adoption of the circular economy, Circular sees impact as a foundation of their business model.

“Every customer we onboard is shifted out of the take-make-waste ‘linear economy’ and so multiple devices are permanently removed from the waste stream. What’s especially exciting is that we see our customers come back for multiple devices, indicating that they quickly see subscriptions as better than buying are shifting their consumption preferences to the circular economy,” Ramsay explains.

Also Read: Following fund completion, Eurazeo aims to support up-and-coming leaders in climate tech

In terms of target, Circular wants to achieve having six users per device, “So that each device’s useful life is maximised before being retired and properly recycled.”

Ramsay also explains that, due to the impact-driven nature of its business model, there is no trade-off between impact and profitability.

“The reality is that in Singapore today, only 10 per cent of smartphones reach a second owner. What is more common is that phones get placed in a drawer and kept as a spare, ‘just-in-case’ option. By our calculations, smartphones are typically only used for 33 per cent of their useful lives – they then spend approximately 33 per cent in storage, and another 33 per cent in the e-waste stream,” he says.

“Ultimately, this is a problem of underutilisation, which Circular is aiming to resolve with our subscription model. By keeping products in use for longer and precious materials out of landfill, we hope to gradually shift patterns of consumption. That’s where the name Circular comes from.”

Circular is currently run by a team of 30 that is divided between Singapore and Sydney, Australia.

In addition to its acceptance to Y Combinator, it has raised two funding rounds from investors across Singapore, Australia and the US.

“We have big plans for growth in Australia and New Zealand where our early testing has shown an incredible amount of demand for subscription-based tech,” Ramsay closes.

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Image Credit: Circular

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As we head into the exciting months of August to November 2023, the Southeast Asian region is set to witness a flurry of business and tech events that will shape the future of various industries.

From conferences that bring together industry leaders to workshops and exhibitions that foster innovation, these events offer unique opportunities for networking, knowledge sharing, and investment prospects. Here’s a comprehensive list of upcoming events in the region that are not to be missed:

August 2023

World Blockchain Summit Singapore 2023

When: August 23, 2023

Where: Singapore

The summit gathers tech enthusiasts, developers, and investors from around the world, establishing itself as a prominent event in the blockchain industry. Explore the latest trends in immersive presentations, panel discussions, and workshops, focusing on DeFi, NFTs, smart contracts, and blockchain’s impact across sectors. Esteemed keynote speakers, including CZ from Binance, Charles Hoskinson of Ethereum and Cardano, and Vitalik Buterin of Ethereum, share valuable insights on digital finance and blockchain’s future.

The summit fosters meaningful exchanges among industry leaders, providing a platform for collaborative efforts and innovative endeavours in the blockchain world. Attendees gain fresh perspectives and valuable connections, making the summit an exciting and transformative experience.

Techsauce Global Summit 2023

Date: 16-17 August

Bangkok, Thailand

The Techsauce Global Summit is a remarkable gathering that unites tech enthusiasts, innovators, investors, and industry leaders from across the globe. This summit serves as a dynamic platform for exploring cutting-edge technologies, disruptive innovations, and emerging trends in various industries. Attendees can expect engaging discussions and enlightening presentations on transformative topics like AI, blockchain, fintech, healthtech, and more.

Key speakers include Ana Barjasic’ CEO of Connectology & European Innovation Council Board Member; Natalie Black, His Majesty’s Trade Commissioner for Asia Pacific U.K. Government; John Park, Partner, SparkLabs and more.

Coinfest Asia

When: 24-25 August

Where: Bali, Indonesia

Coinfest Asia, the immersive Web3 festival, returns on 24-25 August 2023 in Bali, Indonesia. Unlike typical conferences, this event offers a casual clifftop setting for networking and engagement. With over 2,000 participants from 50+ countries in the previous edition, Coinfest Asia 2023 introduces a new theme: Web2.5, merging Web2 and Web3 concepts.

The summit showcases real use cases and tangible solutions, providing a platform for impactful product presentations and strategic partnerships between Web2 and Web3 companies. Attendees, from founders to crypto enthusiasts, can gain practical insights, build connections, and explore evolving industry developments through hands-on workshops and discussions.

September 2023

DealStreet Asia PE-VC Summit 2023

When: 5-6 September

Where: Singapore

The Asia PE-VC Summit 2023 gathers key stakeholders from the private equity and venture capital sectors to explore Asia’s dynamic investment landscape. Attendees gain valuable insights into emerging trends, deal-making opportunities, and challenges in the region.

The summit features thought-provoking discussions on investment strategies, the future of PE-VC in Asia, and opportunities in diverse sectors.

Speakers include Byju Raveendran
CEO and Founder BYJU’S, Stefanus Hadiwidjaja, Chief Investment Officer Indonesia Investment Authority; Minette Navarrete Co-founder, Kickstart Ventures etc. Don’t miss this enriching event in Singapore, offering unparalleled networking opportunities and valuable industry connections. Stay tuned for the date announcement on the event website.

TOKEN2049

When: 13-14 September

Where: Singapore

TOKEN2049, the world’s premier Web3 event, is set to welcome over 10,000 attendees, with more than 80 per cent coming from overseas, making it the industry’s largest international gathering. This year’s conference brings together key business leaders from traditional finance, big tech, crypto-native entrepreneurs, builders, and policy-makers, solidifying its world-class status as the global premier Web3 event.

The conference program will cover a wide range of critical themes, including the evolving regulatory landscape, crypto and AI convergence, blockchain scaling, Web3 gaming and the metaverse, digital asset institutionalization, Web3 infrastructure, and multi-chain network and protocol interoperability.

Distinguished speakers include Cameron and Tyler Winklevoss, Co-Founders of Gemini; Jeremy Allaire, Co-Founder and CEO of Circle; Jenny Johnson, CEO of Franklin Templeton; Daniel Alegre, CEO of Yuga Labs; Richard Teng, Head of Regional Markets at Binance; Daniel Ricciardo and Pierre Gasly, Formula One Drivers and Web3 enthusiasts from Scuderia AlphaTauri and BWT Alpine Formula One respectively.

October 2023

Entrepreneurs Summit IV

When: 12 October

Where: Kuala Lumpur, Malaysia

Entrepreneurs Summit IV celebrates entrepreneurship and innovation, gathering aspiring entrepreneurs, seasoned leaders, and experts for insightful discussions on startup trends and strategies. Esteemed speakers include Ben Lim, CEO of NEXEA; Joel Tay, Cofounder of Softspace; Noomi Fessler, CFO of Lapasar among others.

Gamescom Asia

When: 19 – 22 October

Where: Singapore

Returning to Singapore is the ultimate platform for Asian game developers to forge partnerships and expand their global audiences. For international studios, it serves as a stepping stone into Southeast Asia, one of the world’s fastest-growing games markets, connecting with fans and talent in the region.

The Trade Zone (B2B) offers an opportunity to meet decision-makers, foster partnerships, and expand audiences within Southeast Asia and beyond. Gain valuable insights from expert conferences that enrich your gaming knowledge.

In the Entertainment Zone (B2C), expect an exciting array of new releases, game demos, live stage entertainment, cosplay, online shows, and more. Anticipate a diverse gaming network with 30,000 visitors from Asia and beyond, providing ample opportunities for interaction, education, and business in the gaming industry.

e27 Flux Series

When: 15 November

Where: Jakarta, Indonesia

To succeed in this dynamic landscape, businesses need innovative strategies and insights to stay ahead of the curve. Enter e27 Flux Series: Marketing Leaders, a gathering of top marketing professionals from across the region. This project aims to equip participants with the knowledge and skills required to navigate the ever-evolving marketing landscape. By attending this event, marketers can learn from industry leaders, acquire valuable insights into consumer behaviour, and identify emerging trends that can reshape marketing strategies.

Engage in keynote speeches, interactive panel discussions, and practical workshops that offer hands-on learning experiences. Network with peers and other marketing experts to explore potential partnerships. Stay updated on industry developments and creative ways to engage your audience, empowering your brand for sustained growth. Don’t miss this exclusive event to revolutionise your marketing efforts and take your business to greater heights — all at the Flux Series: Marketing Leaders.

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Image credit: Photo by Product School on Unsplash

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