(Yicai Global) Sept. 21 -- Online education platform Beijing MosoInk Information Technology Co. has completed its A-round financing worth tens of millions of yuan, which it plans to use to exploit the business-end of the market, the company said.
Beijing Jihe Investment Management Co. led the round, with support coming from Seentao Science and Technolgoy Co. and Beijing Tianyan Rongzhi Software Co., online media outlet Jiemodui reported on Sept. 20.
MosoInk was established in 2012 and initially entered the education industry through cloud textbooks. In November 2014, it began promoting its interactive teaching tool for classrooms, Moso Tech. More than 100,000 teachers have registered with the platform to date and it has more than 3.3 million users. The firm has signed up more than a hundred schools and hopes to surpass 200 this year, said founder Jin Xin.
During the tail end of last year, MosoInk started to promote its Big Data management platform for cloud teaching, which provides data analysis and statistics to help schools manage learning and flag problems.
Jihe Investment's participation in the round suggests it is leaning towards the education sector. Forecasts show that funding for the digitization of education could reach CNY29 billion (USD44.6 billion) in 2020.
MosoInk has already won over a good deal of teachers and users in the sector, and Jihe Investment hopes to help the firm further extend to universities and vocational colleges by collaborating with other leading education firms and integrating education and industry.
The integration of industry and education involves opening up vocational schools through new study programs, uniting industries and teachers, scientific research, technical services and talent cultivation, all of which can be used to form a new school model combining education and enterprises.