Edutech Startup Vitruv jointly held an event with StudyBank, the largest education firm in Taiwan, at Caesar Taipei Hotel in Taiwan on August 31 to officially launch a MataMATH service.
StudyBank, an educational subsidiary of Taiwan’s CoAsia Group, leads the nation’s online education market. The company signed a content supply and partnership contract with Vitruv in April and is conducting marketing and business activities in the B2B market for Taiwan’s schools and private educational institutes and the B2C market for individual consumers. Based on this, Vitruv plans to enter the Taiwanese education market and establish a foothold to seek various partnerships with education service providers in Asia, including China, in where edutech is growing in the future at the same time.
During the event, StudyBank CEO Michael Chan said, “MataMATH is a necessary service in the Taiwanese education market in where self-directed and man-to-man learning is important. Based on the company’s infrastructure, we will make an effort to make good results.”
Vitruv is a startup established by CEO Oh Tae-hyung, who majored in financial mathematics at Seoul National University, and his four classmates from Hansung Science High School and Seoul National University in September 2013.
The company has started its service through Megastudy last year and funded by Kakao’s subsidiary “K Cube Ventures.” It is also selected to take part in the TIPS program which is the government’s global R&D support project and preparing to push into the global market. The Taiwanese version of MataMATH is available on StudyBank’s online site and offline private educational institutes across the country. It also runs its official website (http://matamath.net/tw) for Taiwanese consumers.