China-based educational toy maker NeoBear has closed a RMB 120bn ($18.8m) series A round that included wireless technology producer Qualcomm, China Money Network reported on Monday.
The round was led by venture capital firm GGV Capital and also featured participation by financial services firm Sinolink Securities, private equity firm Haitong Kaiyuan Capital and investment firm Liuhe Capital.
Founded in 2009, NeoBear produces augmented reality toys, mobile apps and animated videos to teach children between the ages of 2 and 7 words and languages. It will use the cash for continued technology development, content creation and increased marketing efforts.