China-based online education platform developer Onion Math has closed a RMB300m ($44.5m) series D round that included internet group Kunlun Wanwei, 36Kr has reported.
Investment firm Primavera Capital Group led the round, which also featured unnamed new and existing investors.
Founded in 2013 and also known as Yangcong Shuxue, Onion Math provides educational video courses that use animations instead of teachers to help pupils aged five to 18 prepare for mathematics, physics and chemistry exams.
The company’s technology is used by approximately 20 million students and 600,000 teachers, and it supplies its products to about 150,000 primary and secondary schools across China.
Onion Math will use the series D funding to develop new courses, including programs focused on subjects outside maths and science, such as English and Chinese language learning.
The company raised more than $19m in March 2018, through a series C round featuring internet group Tencent and Legend Capital, the venture capital firm formed by conglomerate Legend Holdings.
VC funds Star VC and Qingsong Fund co-led Onion Math’s $14.5m series B round in May 2017, investing alongside Frees Fund. It had raised $4.8m in a 2016 series A-plus round backed by Fengfeng Rui Capital, adding to a $2m series A round led by Chenxing Foundation in 2014, according to 36Kr.