China Digest: New Tranx raises $7.5m; Acadsoc gets $15m Series B+

Photo: REUTERS/Jason Lee

Beijing-based AI powered translation service New Trnax has raised a $7.5 million in a Series A round while Shenzhen-based English language learning platform Acadsoc has secured a $15 million Series B+.

AI-led translation platform New Tranx raises pre Series A

Beijing based artificial intelligence powered startup, New Tranx Information Technology (Beijing) Co, has raised a $7.5-million pre Series A capital from Kaitai Capital, Bojiang Capital Management Group and other investors.

Other participants include Meiya Qianhai Wutong Investment, a joint venture between Chinese digital forensics and cyber security company Meiya Pico and Qianhai Mergers and Acquisition Fund, and Leaguer Group Co., Ltd., a venture capital vehicle under the Research Institute of Tsinghua University in Shenzhen, the China Money Network reported.

New Tranx, founded in 2014 by Chinese scientists, is an instant online translation, inclusive of localization services for web portals. It is capable of translating 37 languages and has categorized 570 million Chinese-English sentences for better quality.

The startup will be making a certain level of positive contribution towards the global translation industry estimated to be worth $40 billion and even reaching $45 billion by 2020.

English language learning platform Acadsoc gets $15m Series B+

Shenzhen-based online education company, Acadsoc has raised a $15 million Series B+ led by Shenzhen Capital Group, a venture capital firm with interests in IT and biomedicine.

IDG Capital, an investment firm from China focusing on early to growth stage companies in the tech space, also participated in the funding round.

The platform provides courses on English language to primary, middle school and other language related examinations like BEC, IELTS, TOEFL. The platform mainly caters to Chinese students.

With presence in China, Hong Kong, Manila, London and New York, it has over 1500 employees providing tutoring services.

Prior to the latest funding round, Acadsoc got $4.7 million Series A from Ginkgo, a Chinese venture capital.

Also Read:

China Digest: Huisuanzhang raises $30m; Sequoia backs Yitaichang; Vipmro funding

China Digest: Tencent backs Kindred; Futurus gets $10m; Zhicang raises pre Series A

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.