H Capital leads $30m round for China education site
China-focused venture capital firm H Capital has led a $30 million Series A round of funding for Lexue Education, an online education platform.
Gene Capital and five more angel investors also participated in the round, Yundong Cao, Lexue's founder, confirmed to local media. Shunwei Capital Partners, H Capital and Gene Capital provided $4 million in an angel round at the end of last year.
The online education site has accumulated more than 400,000 registered users since its incorporation in April. It focuses on K-12 students, providing online teaching videos and a database of test exams. Lexue claims to spend RMB400,000-500,000 ($63,000-79,000) on average to produce each teaching video.
The new funding will be used to expand its service coverage in more subjects, Cao said.
H Capital was founded in 2002 by Xiaohong Chen, who was previously a managing partner with Tiger Global in China. In the education space, the VC firm led a $100 million Series D round of funding for 17zuoye.com, a Chinese K-12 online learning and teaching platform, earlier this year.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.