Qualcomm leads Series C for Chinese online English education start-up

UMC Capital and Singaporean venture Vickers Venture Capital also participated in the deal, according to a statement.

Alo7 was established in 2010 as a children's English-learning brand by parent company Saybot Information Technology, an international provider of English learning products. Its two previous rounds of funding came in 2004 and 2007.

The company currently has two products - Alo7 English Digital Textbooks and Alo7 English Learning website. Hundreds of language training institutions, public elementary schools, and kindergartens are using Alo7 digital language-learning materials, including New Oriental, Xueda Education and Bond Educatio, the company said.

Qualcomm Ventures was founded in 2000 and given $500 million to make strategic investments in early-stage high-tech ventures. Three years later, it launched a China-specific fund of $100 million to target early- to mid-stage local companies engaged in CDMA-based products, applications and services.

In September last year, it participated in the Series B funding round for Dolphin Browser, a Chinese-made mobile browser.

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• Topics
• Greater China
• Consumer
• Venture
• Technology
• China
• Qualcomm Ventures
• Singapore
• Venture
• The CID Group
• TMT