Intelligent K12 after-school tutoring services provider Squirrel Ai Learning has raised ‘tens of millions of US dollars’ in a Series C1 round of financing, per a company statement on Friday.
Return investors SIG and NGP Capital, the VC arm of Nokia, made a follow-on investment in the round.
CITIC Securities, a subsidiary of Chinese state-backed CITIC Group that got listed in Shanghai and Hong Kong, also joined the round.
Squirrel Ai is in the process of raising its Series C2 round of financing, it claimed.
Headquartered in Shanghai, Squirrel Ai uses adaptive learning technology to develop AI-powered software-as-a-service tools.
SIG, NGP Capital, state-owned Cash Capital, Chinese educational services majors New Oriental Education and TAL had collectively invested 200 million yuan for Squirrel Ai’s angel round in 2017.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from July 01-02, 2021.
