China-based online exam testing technology provider 7Net has secured RMB200m ($29.9m) in a series B round featuring corporates Gaosi Education and Elex, China Money Network reported on Monday.
Educational services provider Gaosi and game developer Elex were joined by investment firm Sinovation Ventures, Wanrong Capital, Shanghai SIIC Fund Management. The company has not disclosed details of earlier funding.
Founded in 2013, 7Net provides artificial intelligence-equipped exam grading systems that use visualisation and data analysis to assess answers from large numbers of students. Its user base covers some 20,000 Chinese students at present.
The platform can compile reports tracking trends among large groups or picking out specific weaknesses for individual students. The series B cash will support the enhancement of 7Net’s AI technology and an increase in its headcount.