China-based educational services app developer Xuebajun has raised $100m in series C funding from investors including publisher Wanxin Media, China Money Network reported yesterday.
China Merchants Capital and EasyCapital co-led the round, investing alongside Vertex Ventures, which invests as a subsidiary of the Singaporean government, as well as Qiming Venture Partners, Trustbridge Partners and, according to Asian Venture Capital Journal, Yada Education.
Founded in 2013, Xuebajun has created a mobile app that provides answers to students’ queries, either through artificial intelligence or online users. Users upload images that display their questions and can receive an answer within three minutes.
Vertex Ventures initially invested $5m in Xuebajun in 2014 before returning for a $50m series B round the following year that was co-led by Qiming and Trustbridge.