China-based augmented reality (AR) education company Yangshu Wenhua (Shanghai) has secured RMB250m ($37m) in series B funding from investors including mobile chipmaker Qualcomm, China Money Network reported today.
The round was led by private equity fund New Horizon Capital and included venture capital firm GGV Capital and undisclosed additional Chinese investors.
Founded in 2009, Yangshu Wenhua manufactures science and education products utilising smart hardware and AR technology for children aged between two and 10 years old, under a brand called NeoBear.
Pocket Zoo, an AR product that helps children learn about animals, has reportedly sold 150 million sets so far this year. NeoBears latest release is a handheld circular tablet called MagNeo that uses a combination of images, text and sound to explain objects to kids.
The round reportedly follows an $18.8m series A round led by GGV Capital in September 2015 that also featured Qualcomm, Sinolink Securities, Haitong Kaiyuan Capital and Liuhe Capital.
– Image courtesy of Yangshu Wenhua (Shanghai) Co, Ltd.