K12 online education firm KnowBox receives USD 30M for Series B+
Founder: Liu Ye
Founded in: 2015
Financing status: RMB 200 million (USD 30 million) for Series B+ financing in 2017
K12 online education firm, KnowBox, received USD 30 million for Series B+ on October 12 for more products in various education scenes.
KnowBox is a K12 online education firm that helps students get the most from doing homework by providing personalized exercises. It can also help teachers to better manage students’ homework by avoiding repetitive labor and securing more time to address each student’s unique challenges. Additionally, it has released an ‘AIOC (AI-Oriented-Content) strategy’ that uses AI and big data technology to facilitate its education services.
Founded in 2015 in Beijing, its services cover 32 provinces in China with over 400 cities and 50,000 schools. So far, it has 20 million users registered, with two million active daily.
Knowbox previously received USD one million for angel round from Legend Star in 2014 and USD 10 million for series A from Chinese education firm, TAL Education Group, JD.com’s founder Liu Qiangdong, and Legend Star last year. This new financing round was led by Bertelsmann, with Baidu participating as investors. The capital will be used to boost its service efficiency, as well as introduce AI and big data for a better user experience.
Fintech startup MioTech receives USD 7M for Series A
Founder: Jason Tu
Financing status: RMB 46 million (USD 7 million) for Series A financing in 2017
Fintech startup, MioTech, received USD 7 million for Series A on October 12 to develop artificial intelligence based software.
MioTech is a fintech startup that helps large financial enterprises store and process terabytes of data. Its analytics engine helps investment managers combine data from a variety of sources, including market prices, news events, and other financial activities, and get insights to help them manage their wealth. Additionally, MioTech focuses its research and development on building its data feed pipeline and machine learning research team, as well as working with financial data providers to grow its data analytics tools.
Founded in Shanghai with with offices in Hong Kong, it is about to release the new version of its product to facilitate its financial service based on its database.
This Series A financing round was led by Horizons Ventures, a private investment arm of Hong Kong business tycoon, Li Ka-shing, and Zhenfund participating as investors. According to the founder of MioTech, it plans to use the funds to hire talent from top tech and financial companies such as Google, Facebook, and Morgan Stanley, as well as invest in the research and development of new technologies.
（Top photo from 699pic.com）