China-focused venture capital firm Qiming Venture Partners has led a series A round of nearly US$10 million in Kuaile Zhihui, a Beijing-based artificial intelligence start-up developing educational robots for children.
GGV Capital and China Elite Capital, a venture investment firm founded by Lisa Zhang, former managing partner at Intel Capital, also participated in the round, according to a company announcement.
Kuaile Zhihui, which means "happiness and intelligence", was founded in 2015 by Lei Ming, former chief architect at Baidu Inc. and founder of music site Kuwo. The company develops educational robots for kindergarten and primary school students, employing speech recognition, big data analysis and deep learning.
Its robots teach math, Chinese and English, and can adjust course content by evaluating a child’s learning ability based on its big data analysis system.
The company says its development team is made up of graduates from Peking University, Tsinghua University, the Chinese Academy of Sciences and Beijing Normal University, with over 90% of its staff hold masters degrees or Ph.D.s.