Kaishu Story, a China-based online children’s story platform that counts internet group Baidu as an investor, has completed a $66m series C-plus round, TMT Post reported on Wednesday.
Growth equity firm TrustBridge Partners led the round, which also featured Singaporean government-owned investment firm Temasek and private equity firm Loyal Valley Capital.
Founded in 2014 and also known as Kaishu Jianggushi, the company operates an online platform that provides children’s audio stories and parenting content through both free and paid subscription models.
Customers can also access more affordable toys and childcare products on the platform through a group buying service.
The company secured more than $50m in a July 2019 series C round led by Baidu that included education services firms TAL Education and New Oriental Education & Technology in addition to Shanghai Kunyan Investment.
Kaishu Story had already raised $13m in a series B round led by New Oriental Education & Technology and backed by media company Zhejiang Daily Digital Culture, TrustBridge Partners and iResearch Capital two years earlier.
The series B round was reportedly followed by $24.6m in series B-plus funding from Loyal Valley Capital and Kunyan Investment in early 2018.
