BEIJING (Reuters) – Beijing-based education tech startup Yuanfudao said on Thursday that it has secured $2.2 billion in two recent rounds of financing, bringing the company’s valuation to $15.5 billion.
The series G1 financing was led by Chinese social media and gaming Giant Tencent, with participation of Hillhouse Capital, Boyu Capital, and IDG Capital, Yuanfudao said in a statement. The series G2 was led by DST Global, and other investors include CITICPE, GIC, and Temasek.
(Reporting by Yingzhi Yang in Beijing and Brenda Goh in Shanghai; Editing by Kim Coghill)
