In brief: Tencent leads $300m round in Chinese online tutoring company

To get more news and analysis like this from Tech In Asia in your inbox, sign up for our free newsletter here.

Chinese online tutoring company Yuanfudao announced that it has received US$300 million in a funding round led by Tencent. The round is joined by existing investors Warburg Pincus, Matrix China Partners, and IDG Capital. The Beijing-based Yuanfudao is competing with rivals like Zuoyebang, Entstudy, and Songshu AI. Given the market boom, there’s plenty of competition in China’s K-12 online education space.

Source: Sina Tech via Technode