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Venture Capital
nextrans.co.kr

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Investments

29

Portfolio Exits

3

Partners & Customers

1

About Nextrans

Nextrans is a cross-border early-stage accelerator located in Seoul, Boston, and Hanoi.

Nextrans Headquarter Location

Hongwoo 2 Bldg. 1209-ho 22, Seocho-daero 78-gil, Seocho-gu

Seoul, 06621,

South Korea

+82-2-557-0829

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Latest Nextrans News

Azota is solving exam headaches for Vietnam’s teachers

Jul 6, 2022

Creating and grading tests is one of the most time-consuming tasks teachers need to deal with. In Vietnam, a startup called Azota wants to help with an online software platform that not only helps educators develop and proctor tests, but also automatically grades them using information from Vietnamese teaching materials. The company announced today it has raised $2.4 million in pre-Series A funding led by GGV Capital, with participation from Nextrans and returning investor Do Ventures. Founded last year, Azota now counts 700,000 teachers and 10 million students in primary, secondary and high schools among its users. It says that during peak test periods, it serves over six million users each month, or about 30% of the total number of teachers and students in Vietnam. It claims it can cut down the grading process from two hours when done manually to just two minutes. Azota’s creation came amidst the pandemic in 2021. Before co-founding the startup, Au Nguyen, its CEO, worked for Viettel, one of the largest telecoms in Vietnam. He led an educational unit on school management solutions, but realized that educators had many pain points that his team could not solve. As a result, he decided to team up with his friends, Dai Nguyen and Hung Le, to create Azota. “As the team sees it, there are two major scopes of work for teachers: teaching and assigning and grading tests,” they told TechCrunch in an email. “During the COVID times, teaching had to go online, and there were numerous tools to support this change such as Zoom, Google Meet, Microsoft Team, etc. But when it comes to online assigning and grading, there were few tools available, which made the process very labor-intensive and time-consuming.”  Azota built an optical character recognition app to automatically recognize Q&A’s from test images taken from teachers’ phones. It shuffles those questions and answers to create hundreds of modified test combinations. Since the OCR was built using Vietnamese teaching materials, the team said it can recognize Vietnamese tests with a 99% accuracy rate. Azota’s founders are also working on a more advanced question bank features that will allow teachers to pick and chose from its inventory to create exams from scratch. The startup is used by educators across the nation, with about 22% coming from the major cities of Hanoi and Ho Chi Minh City, and the rest distributed equally among all provinces in Vietnam, they added. The team identifies two main groups of competitors. The first are big corporations that provide learning management software (LMS) to schools, but they say it’s still a fragmented market in Vietnam with different companies dominating different regions. The second are startups that provide tools for teachers, but Azota’s founders say the teaching tool segment is still early and Azota differentiates by using a product-led growth model, solving teachers’ main challenges as they grow, especially for assigning and grading, instead of trying to address every issue that comes up. In a prepared statement, GGV Capital global managing partner Jixun Foo said, “Using technology to empower teachers to teach better, Azota makes great education accessible to millions of students. They can unleash the true potential of teachers to groom the next generation of Vietnamese youth.”

Nextrans Investments

29 Investments

Nextrans has made 29 investments. Their latest investment was in Azota as part of their Seed VC on July 7, 2022.

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Nextrans Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/6/2022

Seed VC

Azota

$2.4M

Yes

2

6/30/2022

Series A

RCE

$3.87M

Yes

2

4/25/2022

Seed VC

Talentree

Yes

1

4/1/2022

Seed VC

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$99M

Subscribe to see more

10

2/4/2022

Seed VC - III

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$99M

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10

Date

7/6/2022

6/30/2022

4/25/2022

4/1/2022

2/4/2022

Round

Seed VC

Series A

Seed VC

Seed VC

Seed VC - III

Company

Azota

RCE

Talentree

Subscribe to see more

Subscribe to see more

Amount

$2.4M

$3.87M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

2

2

1

10

10

Nextrans Portfolio Exits

3 Portfolio Exits

Nextrans has 3 portfolio exits. Their latest portfolio exit was Hyperfine on December 23, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/23/2021

Reverse Merger

$99M

5

6/24/2021

Acquired

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$99M

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10

5/4/2021

Corporate Majority

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$99M

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10

Date

12/23/2021

6/24/2021

5/4/2021

Exit

Reverse Merger

Acquired

Corporate Majority

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Sources

5

10

10

Nextrans Partners & Customers

1 Partners and customers

Nextrans has 1 strategic partners and customers. Nextrans recently partnered with XENO on February 2, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

2/7/2022

Partner

Uganda

Xeno Holdings Signs Strategic Partnership Agreement With Nextrans

07 , 2022 -- High Tech investment Company XENO Holdings has entered into a strategic partnership with Nextrans , a South Korean venture capital firm .

2

Date

2/7/2022

Type

Partner

Business Partner

Country

Uganda

News Snippet

Xeno Holdings Signs Strategic Partnership Agreement With Nextrans

07 , 2022 -- High Tech investment Company XENO Holdings has entered into a strategic partnership with Nextrans , a South Korean venture capital firm .

Sources

2

Nextrans Team

2 Team Members

Nextrans has 2 team members, including current Chief Executive Officer, Eddy Hong.

Name

Work History

Title

Status

Eddy Hong

Chief Executive Officer

Current

Stephen Jung

Chief Financial Officer

Current

Name

Eddy Hong

Stephen Jung

Work History

Title

Chief Executive Officer

Chief Financial Officer

Status

Current

Current

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