Online education platform Yangcong receives USD 14 million for Series B
Founder: Yang Linfeng
Founded in: 2013
Financing status: RMB 97 million (USD 14 million) Series B financing in 2017
Online education platform Yangcong on Monday landed USD 14 million for its Series B round to integrate artificial intelligence and big data technology on its platform to provide students with customized learning suggestions.
Yangcong is an online education platform that provides interactive teaching videos and game oriented learning experience for middle school students. It also aims to help students improve their learning efficiency. In addition, its platform collects data from the students’ learning process, as well as provide customized learning suggestions.
It creates a series of learning videos based on the syllabus, using funny language to illustrate each knowledge point. Students will then be asked to finish a small test to check if they have mastered the knowledge point. Once the test is completed, they can continue watching the next video. The platform will also automatically collect mistakes that the students made, which will be convenient for them to review later.
Founded in 2013 in Beijing, Yangcong has so far produced more than 1,000 interesting learning videos, and 230,000 teachers and more than 8 million students at over 57,000 middle schools are using its online education platform as daily learning tools.
This Series B financing round was led by Star VC and Qingsong Fund. The capital will be used to increase investment on integrating artificial intelligence and big data technology on its learning platform to provide customized learning suggestions, and create more instructional videos for students.
Medical equipment manufacturer Goodwill receives USD 48 M financing
Financing status: RMB 330 million (USD 48 million) financing in 2017
Medical equipment manufacturer Goodwill on Monday received USD 48 million financing from AliHealth to enhance its medical services for customers.
Goodwill is a medical equipment manufacturer that mainly focuses on the research and development of neonatal breathing equipment and first aid equipment, as well as provide sales services. The company’s main products include neonatal ventilator, baby incubators, and a series of products for neonatal treatment.
Founded in 2006 in Beijing, its business covers medical equipment manufacturing and developing softwares to collect clinic related information. With the development of these softwares, it aims to integrate data and information to increase the accuracy of medical treatments.
This round of financing was from AliHealth, and it plans to use the fund to develop new medical equipment for newborns. It also wants to invest more on technology to speed up integrating medical data and information from its equipment for future development.
(Top photo from 58pic.com)