Holo Speak – A Startup Of UII Startup Incubator Successfully Raises $80,000 in Angel Investment

Amidst the "startup winter" that has hindered fundraising efforts for many startups, Holo Speak, a member of UEH Institute of Innovation (UII) Startup Incubator, has successfully closed its first fundraising round, securing $80,000 USD (approximately 1.7 billion VND) from angel investors.

Holo Speak is a platform designed to help language learners improve their communication skills by practicing with real people via 1-on-1 video calls, followed by personalized skill analysis reports after each session. The app suggests appropriate vocabulary and grammar to use, ensuring learners know how to communicate effectively in real-world situations with native speakers.

With venture capital funding becoming increasingly scarce, investment evaluations have become stricter. Additionally, some startups have begun downsizing as their business performance declines. However, a representative from Holo Speak expressed optimism following the successful $80,000 investment from angel investors. This funding will provide the resources needed to optimize the product and accelerate business outcomes in the upcoming phase.

UII has continuously supported Holo Speak throughout its product development journey. Through training programs, expert connection, UII has played a vital role in helping the startup achieve key milestones, expand partnerships, and gain access to reputable investment funds.

Ms. Nguyễn Ngọc Ngân, founder of Holo Speak, shared: “This project has tremendous growth potential, especially as more people recognize the importance of language in both work and life. Holo Speak not only provides language learners (in English and other languages) with real-world practice opportunities but also helps them address challenges in language use. With plans to integrate artificial intelligence, Holo Speak has the potential to revolutionize how people approach learning new languages.”

Although Holo Speak is a relatively new platform, it has already attracted 7,000 organic users, with a high retention rate of over 60% for regular users. UII believes that this successful funding round will act as a catalyst for Holo Speak’s growth, helping the startup reach its target of 35,000 users by 2024, as planned.

Source: UEH Institute of Innovation

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(*) UII Incubation Program is a high-quality, free incubation initiative designed for early-stage startups in product development and market validation phases. Through the program, startups participate in activities specifically designed to help them achieve critical milestones during the idea development and market testing stages.

🚩 For more information, visit: https://uii.ueh.edu.vn/uii-incubation-program-2023/