SBCVC leads $20m in China education platform Xuexibao

The new capital will primarily be used for product upgrades, Xuexibao said via its official Weibo microblog.

Founded in 2014, Xuexibao is an online app that targets Chinese students from kindergarten through Grade 12. It is positioned as a service that provides answers to questions quickly: a user uploads images relating to the question - such as a mathematical equation - and the app directs them to relevant answers. The company has also introduced a voice-based service that connects students with teachers.

GSR committed $3 million in Series A funding to the company last year.

Xuexibao claims to have over 15 million registered uses across iOS and Android platforms and a database of more than 30 million questions, covering mathematics, physics, chemistry and English, according to TechNode. Teachers account for 20,000 of the user base.

SBCVC, which operates independently of SoftBank Group, was set up in 2000 and invests in companies in the technology, media and telecom, healthcare, cleantech, consumer and advanced manufacturing spaces. The firm is currently in the process of raising its fifth US dollar-denominated fund.

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• Topics
• Consumer
• Greater China
• Technology
• Venture
• Venture
• TMT
• Education
• Softbank China Venture Capital
• GSR Ventures
• China