Shaonian Dedao has raised nearly 200 million yuan ($30 million) in a Series B round led by Vision Knight Capital, while Beijing Vion Technology has secured 100 million yuan ($14 million) in its Series C round from Zhong Huijin Capital and Jinmao Capital.
Shaonian Dedao nets $30m in Series B round
Shaonian Dedao, a subsidiary of Chinese knowledge and information sharing service provider Beijing Logicreation Information & Technology Co., Ltd, has gathered nearly 200 million yuan ($30 million) in its Series B round led by Vision Knight Capital and joined by Tsinghua Holdings’ Mooc-cn Education and Toutou Shidao Fund.
Existing investors China Growth Capital, Everbright Limited’s new economy fund and Frees Fund also participated in the round, China Growth posted on WeChat. The three backers had partnered Loyal Valley Capital, Purple Cow Startups and Lighthouse Capital to jointly invest 100 million yuan ($14 million) in Dedao’s Series A+ round in 2019.
“The proceeds will be used for course development, as well as market and brand management,” said Quanling Zhang, CEO at Shaonian Dedao, in the statement.
Logicreation, also known as Zaowu Siwei, launched Shaonian Dedao in 2018 in Tianjin. It is an edtech firm that provides online learning services for students in the 5-15 age group. It provides live-streaming courses and also audiobooks.
It claims to have recorded a 10-times growth in registered users during the global pandemic period that kept children away from schools.
Jinmao Capital invests nearly $14m in VionTech
Beijing-headquartered computer vision solutions developer Beijing Vion Technology, Inc (VionTech) has raised approximately 100 million yuan ($14 million) in its Series C round from Zhong Huijin Capital and Jinmao Capital, an investment arm of Hong Kong-listed real estate and hotel manager China Jinmao Holdings Group Limited.
Founded in 2005, VionTech offers image recognition and intelligent solutions primarily for smart city and retail sectors. Its services and products are exported to over 20 countries including the Gulf region, Norway, Korea, Singapore, Malaysia, among others.
The developer is also backed by Samsung Ventures, Fortune Capital, Hua Capital, and Tsing Capital.