Beijing-based online education platform Yuantiku has completed US$15 million new round of financing from existing investors, Matrix Partners China and IDG Capital Partners, according to Chinese media reports.
The team behind Yuantiku previously operated another similar online platform called Fenbi.com, which was closed down recently. The team now focuses on building Yuantiku, a mobile app that provides exams and exercise databases for Chinese middle school and high school students.
IDG Capital invested about RMB10 million in series A financing in the team, and the company received series B financing of an undisclosed amount last year.
IDG Capital Partners is a China-focused investment firm with over US$2.5 billion under management.