China Merchants Capital Co-Leads $100M Round In Online Education Start-Up

China Merchants Capital and EasyCapital, a Shanghai-based RMB fund focused on early investments in technology, media, and telecommunications sector in China, have led a US$100 million series C round in Xuebajun, an education mobile app allowing students to upload questions and get answers from both its robots and online teachers.

Wanxin Media and existing investors Qiming Venture Partners, Trustbridge Partners, and Vertex Ventures also participated.

Founded in 2013, Xuebajun provides free mobile services answering any questions students may have, allowing students to upload pictures of the questions and receive answers in three minutes.

"Digitize educational content and utilizing robotics to help teachers and students will be the future of smart education. We will continue our focus to help students with their most urgent needs in their learning experience," Xuebajun said in a statement.

Previously, the company raised US$5 million from Vertex Ventures in 2014 and completed a US$50 million series B financing round from Qiming and Trustbridge Partners in 2015.

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