Chinese K12 online education startup Empower Education Online Ltd (EEO) has secured ‘tens of millions of USD dollars’ in a Series B round of financing exclusively from INCE Capital, a consumer-focused investment firm co-founded by former Qiming Venture Partner’s founding partner JP Gan in 2019.
EEO will use the proceeds to advance its online education services and deliver novel content.
Set up in 2014, EEO’s flagship platform, ClassIn, enables interactive learning by way of live-steaming and also helps to enhance online-merge-offline (OMO) teaching solutions for schools and organizations.
In partnership with Sonny Global Education, EEO is working to facilitate OMO education in Japan.
Prior to the current round, XDF.CN’s investment vehicle along with TAL Education Group and ATA had injected nearly 100 million yuan ($14 million) in its Series A+ round in 2017. Earlier in 2016, TAL and ATA had made a strategic investment in EEO.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from July 14-15, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Verticals|
|Arctic Vision||Shanghai||32 million||A||Morningside Ventures||Nan Fung Life Science, Pivotal BioVenturePartners China||HealthTech|
|Greenet||Wuhan||21 million||B||SDIC Venture Capital||-||Infrastructure|
|Shanghai Topgen Pharmaceuticals||Shanghai||17 million||C||-||Guoke Ruihua, Shanghai Hantai Venture Capital, The Chinese Academy of Sciences Holdings (CASH)||HealthTech|
|Tungee||Guangzhou||17 million||B||Sequoia Capital||Qiming Venture Partners||Saas|
|Bear Rental||Shenzhen||* 14 million||D1||JD.COM||Fortune Capital||E-commerce|
|Suzhou Fineset Material Technology||Suzhou||14 million||A||Triniti Capital||-||N/A|
|Empower Education Online||Beijing||* 10 million||B||INCE Capital||-||EdTech|
|Jian An Logistics||Suqian||* 1.4 million||Pre-A||-||SDIC||Ridesharing /Transport|
|Uinnova Technologies||Beijing||-||B+||Chenshan Capital||Oriental Fortune Capital, Hundsun Technologies||Internet of Things|
∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.4 million)” or “100 million yuan ($14 million)”.