China's Yuanfudao now the world's most valuable edtech with $2.2bn new funding

© Yuanfudao

Yuanfudao’s second tranche of its Series G funding follows the $1bn it raised in March, bringing its valuation to $15.5bn

Yuanfudao, also known as "Ape Tutor” in China with over 400m users, said it has raised $2.2bn in Series G1 and G2 funding at a $15.5bn valuation, making it the world’s most valuable edtech startup. The round was led by DST Global with participation from CITIC PE, GIC, Temasek, Trustbridge Partners, DCP, Ocean Link, Greenwoods Investment and Danhe Capital. The fresh funds would help Yuanfudao further penetrate the edtech market, as the company boosts spending on tech innovations, curriculum R&D and improving its service, it said in an October 22 announcement reported by local media.Com...
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Edited by Suzanne Soh, Bernice Tang

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