Chinese edtech app, Xuebajun, in $100m series C funding round
Xuebajun, a Chinese education mobile app that answers students' questions via robots and online teachers, has secured $100m in a series C funding round. The mobile app allows students to submit uploaded pictures of questions that are answered by robots and online teachers free of charge. By digitising educational content and using robotics, students can be helped with their most urgent needs, Xuebajun said in a statement. Along with existing investors, China Merchants Capital, EasyCapital and Wanxin Media participated in the most recent funding round. Xuebajun raised $50m in a series B funding round in 2015, and $5m in 2014.
China Merchants Capital and EasyCapital, a Shanghai-based RMB fund focused on early investments in technology, media, and telecommunications sector in China, have led a US$100 million series C round in Xuebajun, an education mobile app allowing students to upload questions and get answers from both its robots and online teachers.