Since the education disruptions of the COVID-19 pandemic, edtech startups in Southeast Asia have been instrumental in bridging the educational gap and ensuring students are not left behind. These companies bring innovative solutions that enable learners to develop their knowledge and skills from home. The lessons are not only multifaceted, gamified, and personalised but also incorporate a variety of resources such as videos, guides, and podcasts, thereby enhancing the learning experience for students.
According to Statista Research, revenue in the Online Education market is likely to reach about USD 2.06 billion in 2024. By 2029, that figure will have grown to about USD 2.52 billion, with the number of edtech users reaching 46.4 million.
Edtech startups deliver personalised learning, accessibility, convenience, and affordability. Furthermore, students and parents can connect with teachers, and the scientifically-crafted curricula can ensure learners are ready for the future world. The industry is succeeding because the internet infrastructure in Southeast Asia is improving, smartphone use is rising, and the tech-savvy population wants solutions for learning and collaboration in virtual classes.
In 2023, Singapore led the way with the largest share of leading startups in the edtech sector at 47%. Indonesia and Thailand had a slight percentage drop, but the region is still on target to deliver quality online education. Below are five rising edtech startups:
Ruangguru
Indonesia-based Ruangguru is an interactive online learning application that connects learners and tutors and offers standardised tests. It has downloadable video lessons, the Adapto feature for adapting classes to the learner's level of understanding, and summaries in easy-to-digest infographics. Parents can access progress reports, and students can manage their study time and choose from different profile avatars.
With over 40 million users, Ruangguru offers subscription-based services and continues to expand and grow in Vietnam and Thailand. According to investment firm East Ventures, the company is solving education problems in Indonesia by making lessons affordable, reducing or removing internet costs, providing equitable access to education, and innovating learning products.
EMERITUS
Singapore-based EMERITUS aims to teach future skills through accessible, affordable, high-quality online courses. It collaborates with other global educational institutions to deliver short courses, professional certificates, c-suite, and degree programmes for people to upskill. It uses state-of-the-art technology, coaching and hands-on instruction, and innovative curricula to empower its large student body.
EMERITUS became a unicorn in 2021 after receiving USD 650 million in Series E funding from backers like Accel, the Chan Zuckerberg Initiative, and Sequoia Capital India. Other investors include CPP Investments, Peak XV Partners, and Bertelsmann India Investments.
Topica
Vietnam-based Topica Edtech Group is an online education pioneer in Southeast Asia. It has over 1 million students, 1,000 plus teachers, and more than 6,800 courses. It offers degrees, English speech tutoring, and open-field programs, and the instruction model involves videos, animations, textbooks, and more.
Topica has raised much money, including a USD 50 million Series D funding round from Singapore's Northstar Group. The company endured several challenges due to expanding too quickly, laying off staff, and contending with operational costs. Nevertheless, Topica remains resilient as it continues growing and has investors like IDG Capital, Endeavor Catalyst, Openspace, and Patamar Capital, among others.
Pandai
Malaysia's Pandai is an online learning app that helps school students get better grades. It offers fun, live tuition classes with experienced teachers and has raised USD 1.6 million in Seed funding. Furthermore, it has features like quiz games, simplified topic notes, topical tests, report cards for tracking progress, and more.
Pandai uses personalised learning, enabling students to learn at their own pace and identify topic areas that need improvement. It also benefits parents by allowing them to track their children's progress and manage school fees. Teachers can use the app to tailor lessons and quizzes for the pupils.
Quipper
Indonesia's Quipper offers an online learning management system where students can access local study content—aligned with the national curriculum—and receive coaching, tutoring, and assessment tests. The company operates in Japan, the Philippines, and Mexico and provides educational solutions for kindergarten to 12th grade (K-12) learners.
Quipper's learning model involves video lessons with experienced teachers, which students can download for offline viewing. They can also get guides and real-time notifications on assignments and exams.
The potential of Southeast Asia's edtech space
Edtech startups in Southeast Asia face investment challenges, limited internet infrastructure and rural connectivity, privacy concerns, and skilled labour shortages. Slow tech adoption is also an issue in some cases, and the average screen time length may be unhealthy. Finally, there is excessive plagiarism, and the cost of implementing edtech is high.
Opportunities abound for edtech startups to boost education in the region through technologies like AI. Other innovations may enhance personalisation and deliver immersive and interactive learning through the metaverse. Governments should continue upgrading infrastructure, subsidising tech costs, and encouraging online education as an alternative to costlier in-person lessons to ensure people can advance their education and skill sets.
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