China Deal Monitor: INCE Capital invests in EEO and more updates

By Liya Su

July 15, 2020

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. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
Arctic VisionShanghai32 millionAMorningside VenturesNan Fung Life Science, Pivotal BioVenturePartners ChinaHealthTech
GreenetWuhan21 millionBSDIC Venture Capital-Infrastructure
Shanghai Topgen PharmaceuticalsShanghai17 millionC-Guoke Ruihua, Shanghai Hantai Venture Capital, The Chinese Academy of Sciences Holdings (CASH)HealthTech
TungeeGuangzhou17 millionBSequoia CapitalQiming Venture PartnersSaas
Bear RentalShenzhen* 14 millionD1JD.COMFortune CapitalE-commerce
Suzhou Fineset Material TechnologySuzhou14 millionATriniti Capital-N/A
Empower Education OnlineBeijing* 10 million BINCE Capital-EdTech
Jian An LogisticsSuqian* 1.4 millionPre-A-SDICRidesharing /Transport
Uinnova TechnologiesBeijing-B+Chenshan CapitalOriental Fortune Capital, Hundsun TechnologiesInternet 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)”. 

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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.
APPLY NOW

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.
APPLY NOW