Beijing-based Guanghe Xinzhi Technology, operator of online and mobile K-12 learning platform Yangcong Shuxue (literally "Onion Mathematics"), recently announced completion of RMB 97 mln in Series B funding led by StarVC and Qingsong Fund, with participation by prior-round investor Frees Fund.
Yang Linfeng, CEO of Guanghe Xinzhi, said that funds will mainly be used for product development and standardization of elementary and middle school math, physics, and chemistry online learning products. Yang said that the company's financial goal for the year is to break even.
Yangcong Shuxue's products are now used on a daily basis by more than 100 middle schools, including key institutions recognized at the provincial level. According to the platform's website, its products can be used via mobile, PC, and tablet devices. The platform currently has more than 8.7 mln student users and 230,000 instructors, covering more than 90% of middle schools in China. Guanghe Xinzhi previously completed angel, Series A, and Series A+ funding totaling more than RMB 100 mln.
According to online technology media outlet Lieyunwang, Yangcong Shuxue launched in October 2015, and mainly creates online educational content for junior high school students. It provides instructional video series on a variety of topics to explain and elaborate on topics, with practice exercises integrated alongside video content.