Chinese edtech firm splits from Huike, raises $80m in Series A

Source: Avel Chuklanov/Unsplash, a talent education platform that focuses extensively on IT-related online courses, has spun off from its parent company, Chinese education services provider Huike Group, and has independently gathered 550 million yuan ($80 million) in its Series A round of financing.

The Series A round was backed by Chinese venture capital firm Gaorong Capital and GL Ventures, the VC unit of Asia-focused private equity major Hillhouse Capital, said investment bank Taihecap in a WeChat post on Wednesday. Taihecap served as the exclusive financial adviser to the deal.

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