Baijiayun, a China-based remote education and training video platform backed by several corporates, has obtained RMB178m ($26.3m) of series B funding from investors including Cash Capital, the investment arm of Chinese Academy of Sciences, DealStreetAsia reported on Friday.
The round was led by GP Capital and was filled out by Qinglan Capital, Shenzhen Houde Qianhai Investment and members of Baijiayun’s team.
Founded in 2017, Baijiayun offers cloud-based software that allows education and professional training providers to build remote courses with live streaming capable of hosting up to 100,000 viewers per session. The capital is intended to strengthen its R&D, recruitment and sales operations.
Video repository operator Xiaodu Huyu, online education provider Huatu Education and cloud services firm BaishanCloud supplied $9.5m of series A and A-plus funding in early-2018 alongside undisclosed investors, before an eight-figure yuan (RMB10m = $1.5m) series A-plus extension in June 2019 backed by Guiyang Venture Capital and Bangsheng Capital, according to Itjuzi.
GP Capital, Citic Capital, Gaorong Capital and QF Capital had already supplied an undisclosed angel sum to Baijiayun in 2017 according to DealStreetAsia.
Haoxiang Hao, partner at GP Capital, said: “With the fresh round of funding, we expect Baijiayun to continue to help more enterprises through innovative products and services.”
– The original version of this article appeared on our sister site, Global Corporate Venturing.