⁍ Beijing-based education tech startup Yuanfudao said on Thursday that it has secured $2.2 billion in two recent rounds of financing.
⁍ This brings the company’s valuation to $15.5 billion.
⁍ The series G1 financing was led by Chinese social media and gaming Giant Tencent.
– China’s Yuanfudao has raised $2.2 billion in a new round of funding, making the education tech startup the country’s most valuable private company at $15.5 billion, Reuters reports. The funding round was led by Chinese social media and gaming giant Tencent, with participation from Hillhouse Capital, Boyu Capital, and IDG Capital, Yuanfudao said in a statement. The second round was led by DST Global, and other investors included CITICPE, GIC, and Temasek.
Source: https://www.reuters.com/article/china-yuanfudao/chinese-online-tutor-yuanfudao-raises-22-bln-valuing-it-at-155-bln-idUSB9N2BH00W