China Digest: SIG co-leads $41m round in Yixue Education; retailer Yan Ji You raises $18m

A clerk counts Chinese yuan and U.S. dollar banknotes at a branch of Bank of China in Taiyuan

K-12 online education startup Yixue Education, and bookstore chain Yanjiyou have raised $41 million and $18 million in their funding rounds, respectively, the China Money Network reported.

SIG China co-leads $41m round in Yixue Education

SIG China has led a $41 million seed round in Chinese online education platform Yixue Education, along with CASH Capital, New Oriental Education & Technology and Greenwood Investment.

In addition to offering online K-12 classes, Shanghai Yixue Education Technology Co., Ltd has also developed an adaptive learning engine for secondary school students, offering one-to-one tutoring. The CMN report said that the Chinese firm has partnered with over 100 schools in the country.

According to Crunchbase, Yixue also has a presence in Japan.

Bookstore chain Yanjiyou raises $18m Series B

Yan Ji You, a Chinese bookstore chain, has raised $18 million in a Series B round backed by China Grand Prosperity Investment, and Xiamen C&D Corp Ltd.

Yan Ji You combines a bookstore with art gallery and cafe. A recent report by design:retail magazine said that Yan Ji You had launched its flagship store at the IFS Centre in Chengdu, China last September with a café space that spans nearly 100 feet, and reminiscent of a spaceship with its black and white palette and narrow confines.

Also Read:

China Digest: Maide Magic, SmartStudy.com and Huiyihuiying raise funds

Tencent-backed China Literature raises $1.1b in US IPO

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.

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.