Aya Lin · · 1 min readIn brief: Tencent-backed education startup bags $45m from series D round
- Online education company Onion Math (also known as Yangcong Shuxue) has raised 300 million yuan (US$45 million) in a series D round of financing led by led by Primavera Capital Group, according to an Equal Ocean report.
- Founded in 2013, the Tencent-backed startup has raised a total of 600 million yuan so far and plans to use the fresh capital for research and development, focusing on AI-driven customized learning.
- Instead of offering typical online lessons that record teachers’ teaching process, Onion Math creates interesting and creative animation videos for students.
- The platform, which has moved into other subjects including physics, Chinese and English, has registered 20 million students and 600 thousand teachers, covering 150 thousand primary and secondary schools in over 2,800 cities in the country.
Editing by Eileen C. Ang
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