NHN Edu, a subsidiary company of NHN, announced on the 2nd that it attracted investments worth of 32 billion won from Nautic Investment and BNW Investment.
Combined with education and ICT, the education technology that makes improvements to educational services or provides new types of services is growing rapidly around the world. The global education technology market expenditure is projected to reach 404 billion dollars by 2025.
With these investments, NHN Edu is set out to secure its position as a leading company in the education technology. It explains that it will advance its education platform, “I am School,” which has 6.7 million members and gain momentum in the creation and operation of metaverse for education.
NHN Edu provides services depending on users by dividing “I am School” into school notification only service and a community for parents. With a focus on securing loyal customers, schools are also planning to expand exclusive services to support from school news to administration and allow parents to choose services according to their needs.
In addition, NHN Edu is planning to create a virtuous cycle of data with an aim of establishing a metaverse platform for education where students enjoy and parents and faculty members can rely on. It is considering making investments in or acquire outstanding edu tech startups to advance its services.
NHN Edu CEO Yeo Won-dong said, “It is an investment that we attracted with our technology, plans and vision. Our goal is to become an edu tech company that can increase the quality of education by providing necessary technology and services not only for future generations but also the global education market.”