China-based early education provider Ivy Dad has raised $30m in a series B round featuring Focustar Capital, an investment arm of home appliance producer Fivestar Holdings, DealStreetAsia reported yesterday.
Private equity firm Orchid Asia led the round and was joined by V Star Capital, the venture capital firm that had already provided $7.7m for the company through a series A round of undisclosed size in 2018.
Ivy Dad offers online courses for children up to the age of eight on subjects such as maths, music and foreign languages. It claims its teaching and research team is composed of faculty members from the world’s top 10 universities.
The company’s Ivy Dad’s courses are based on academic research on areas including education, neuroscience and childhood development psychology. Its earlier investors include VC firms Sinovation Ventures and Crystal Stream Capital.