(Yicai Global) Sept. 21 -- Gaosiedu, an educational and technological platform run by Gaoseidu Education Group and listed on the National Equities Exchange and Quotations (NEEQ), or New Third Board, has completed a financing round worth CNY550 million (USD84.6 million), it said.
The lead investors in this round are Alphax Partners and China Media Capital. Supporting investors include Sinovation Ventures and China International Capital Corp. Ltd. [HKG:3908], online media outlet Pintu reported on Sept. 20.
Gaosiedu has already completed two rounds of financing and listed on the NEEQ in November 2016. Founded in 2009, it is an education and training institution committed to primary and middle school education. It was first to introduce the notion of education for gifted primary and middle school students in China.
The firm has a very clear strategy to implement the 'content, teaching and open' policy for K12 training through an 'Internet Plus' model, said Xu Jicheng, chief executive.
K12 refers to education from kindergarten through grade 12. Internet Plus is used to refer to the application of the internet and other information technology to traditional industries.
Gaosiedu has transformed from an offline training institution to an online education enterprise. In future, it plans to increase investments in products and technology in a bid to expand its presence in the fields of educational Big Data and artificial intelligence.
The platform currently has 20 schools and more than 60,000 students, covering all subjects studied in primary, junior middle and senior middle school. It has also set up one-to-one teaching centers and online classrooms and is the only institution in China with a specialist math competition teaching and research team.