UOB Venture Management has invested US$20 million in ELSA, an English education app, made in Vietnam, Deal Street Asia is reporting. The apps primary focus is improving English pronunciation through what it claims is AI.

Why it matters: There is a huge appetite for learning foreign languages in Vietnam, particularly English, with relatively big differences in wages in domestic firms versus foreign businesses. This, coupled with a shift toward digital learning, partly due to COVID-19 and partly due to challenges in the in-person English education sector, is driving interest in Vietnam’s EdTech sector.