Temasek Leads $250 Million Series E Round Of Funding
Another day, another round of funding spearheaded by Singapore's Temasek.
Singapore based Temasek Holdings have led yet another round of funding, this time in the smart education world, more specifically, Sunny Education. With the round being a Series E fund, Sunny Education are the largest K-12 intelligent education platform for teachers, students and parents in China. The latest round came three years after their Series D funding, which saw investors such as CITIC Private Equity Funds Management and Shunwei Capital joining the investment process.
Sunny Education, or 17ZUOYE as it is also known, was founded by Lui Chang and Xiao Dun in October of 2011 and has to date, attracted over $385 million worth of investments from the likes of Temasek, Tiger Global Management, DST Global and H Capital, with the company claiming in February 2018 that they had served just over 60 million users in around 120,000 schools thanks to their service of offering free homework solutions to both teachers and students.
Following the news of the funding round, the Chinese education brand said that they will be putting the newly acquired funds to help increase the expansion of their technology within middle and high school sectors. Speaking in a statement, Liu Chang, the founder and CEO had this to say: “We had not raised any fund since our Series D round of financing in February 2015. During that period, we continued enriching our product offerings to cover more categories in all of the three subjects in primary school education and expand our user base.”
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