HO CHI MINH CITY, Vietnam, June 24, 2025 /PRNewswire/ — Galaxy Education (GE), a Vietnamese education technology company, has secured nearly USD 10 million in funding from East Ventures and other investors, marking one of the largest EdTech investments in Vietnam amid challenging market conditions.
Elementary school students in Thai Nguyen province are participating in an ESL class with a native teacher through the OMO (Online-Merge-Offline) model.
The funding round comes as GE achieved full profitability company-wide in Q1 2025, having already turned positive EBITDA in its K-12 vertical from April 2024. This positions the company among the few profitable EdTech players in Southeast Asia during a period of widespread sector struggles.
Scaling national English education initiative
The fresh capital will primarily fund GE’s national English as a Second Language (ESL) program, which aligns with the Vietnamese Political Bureau’s directive to improve English proficiency across the country. The initiative targets both public schools and underserved communities, addressing teacher shortages and learning outcome gaps.
“GE is one of the few edtech companies in Southeast Asia to achieve profitability in such a short time,” said Mr. Luong Cong Hieu, CEO of Galaxy Group. “Their quality-first strategy and financial discipline make them a standout.”
AI-powered learning platform
Central to GE’s strategy is its proprietary AI-powered educational ICAN platform, which uses AI agents to personalize learning experiences for students while providing real-time adaptive support for human teachers. This technology enables the company to deliver quality education at scale without compromising affordability.
“Vietnam’s education sector presents strong growth potential, fueled by rapid digital adoption, an expanding middle class, and increasing private sector participation. We believe in Galaxy Education’s strategic vision and strong execution as a leading player in this space, which distinguishes them from their peers and has enabled them to achieve profitability. With a promising outlook supported by favourable policy tailwinds and continued strong execution from the team, we are excited to support their journey and look forward to their future growth,” said Roderick Purwana, Managing Partner at East Ventures.
Portfolio of education brands
Founded in 2020 through the acquisition of Vietnam’s leading K-12 platform HOCMAI, GE has expanded through strategic acquisitions. In 2023, the company acquired FUNiX, Vietnam’s first online university, extending its reach into workforce upskilling and lifelong learning.
The company operates three main brands:
- HOCMAI: Vietnam’s leading K-12 online learning platform
- ICAN: Language and foundational tech education for young learners
- FUNiX: Online university focused on vocational and digital skills
GE’s vertically integrated model covers the entire education value chain, from market research and curriculum design to tech platforms, teacher training, and class operations.
Market position and scale
GE Staff in front of their Ho Chi Minh City office
As of early 2025, GE serves a cumulative total of over 8 million learners across Vietnam and in 34 countries. The company’s achievement of profitability during a challenging investment climate demonstrates the resilience of its business model and positions it as a rare success story in the Southeast Asian EdTech sector.
About Galaxy Education
Galaxy Education (GE) , a member of Galaxy Entertainment & Education Group (GEE), is a leading Vietnamese edtech platform committed to providing high-quality, accessible education for learners of all ages. Through its innovative ecosystem of three core brands—HOCMAI, ICAN, and FUNiX – GE serves over 8 million learners across Vietnam and in 34 countries. Backed by nearly USD 10 million in recent funding from East Ventures and other investors, GE is at the forefront of Vietnam’s national ESL program in partnership with public schools and is advancing its AI-first roadmap to transform learning – helping shape the future of lifelong learning.
About East Ventures
East Ventures is a pioneering and leading sector-agnostic venture capital firm. Founded in 2009, East Ventures has transformed into a holistic platform that provides multi-stage investment, from Seed to Growth stage investments, for over 300 tech companies across Southeast Asia.
As an early believer in the startup ecosystem in Indonesia and the most active investor in Southeast Asia, East Ventures is an early backer of prominent tech companies in the region, such as Tokopedia, Traveloka, Ruangguru, ShopBack, waresix, Xendit, IDN, Sociolla, Fore Coffee, Tech in Asia (acquired by SPH), Kudo (acquired by Grab), Loket (acquired by Gojek), and MokaPOS (acquired by Gojek).
East Ventures was named the most consistent top-performing VC fund globally by Preqin and the most active investor in SEA and Indonesia by various media. Moreover, East Ventures is Indonesia’s first venture capital firm to sign the Principles of Responsible Investment (PRI), supported by the United Nations (UN). East Ventures is committed to achieving sustainable development and positively impacting society through its initiatives and ESG-embedded practices.
