China-based education mobile app developer Knowbox has raised $15m in series B capital from a group of investors that included conglomerate Legend Holdings, China Money Network wrote yesterday.
The corporate invested through early-stage investment subsidiary Legend Star. The round was led by investment firm Genesis Capital and values Knowbox at $100m post-money.
Incorporated in 2014, Knowbox has developed two apps, one targeted at students and one at teachers, which provide personalised edcuational exercises and homework.
The company claims to have approximately one million daily active users. It will use the series B funding to further build out its database of available homework.
Legend Star first invested in Knowbox in 2014 when it provided $1m in angel funding. Education firm Tal Education Group, Legend Star and angel investor Liu Qiangdong, founder of e-commerce company JD.com, supplied $10m in series A capital for the company in 2015.