EdTech startup Voxy said B2C and B2B e-learning rapidly increased by 57% in both individuals and corporate sectors, and will be replacing in-house training. It’s a good time that investors should fund EdTech startups.
Richie Chawla, Managing Director for ACE Voxy, online English course platform said the overall EdTech startup business this year will grow by 57%, in both of B2C and B2B because of the sheltering in place and self-isolation orders due to the Covid-19 pandemic. People have to work from home, and schools and universities have been also closing. The public and business sector tend to have their workforce have English skills, so more online platforms have been opted instead of in-house training where gathering groups of people is considered defiant.
Key target group of Voxy is the B2B with an objective to enhance English skills of people and organizations in both public and private sectors. Online learning is thus applicable and convenient for workers as they can learn 24 hours anywhere anytime.
The company has turned its in-house training to e-learning. The B2C is a new group for Voxy, however the growth of this market was at 50% for a couple months because people are at home and they want to improve English skills for themselves and their children.
Moreover, the infrastructure network in Thailand is pretty much complete, more than 80% of Thai people can access the internet, so it’s a right timing for investors to raise funds for startups at this moment. The EdTech business takes time and profitability cannot be done in a short period, but it’s stable in a long term. “We believe that both groups of B2B and B2C will grow together and we can survive amid the Covid-19 crisis without a liquidity problem or cash flow for the next 3-6 months,” he said.
