China-based children’s stories content provider Kaishuo Jianggushi has received RMB90m ($13m) in a funding round led by education services company New Oriental Education & Technology, according to China Money Network.
News media company Zhejiang Daily Digital Culture, Trustbridge Partners and iResearch Capital also contributed to the funding round.
Kaishu Jianggushi, founded in 2014, offers children’s stories through a public WeChat account and a mobile app and also produces audio shows. The company claims to have six million users.
The funding will support the company’s growth plans, with sales expected to reach $29m this year. The company also hopes to launch additional products, including smart hardware.