BEIJING, Oct 22 (Reuters) - Beijing-based education tech
startup Yuanfudao said on Thursday that it has secured $2.2
billion in two recent rounds of financing, bringing the
companys valuation to $15.5 billion.
The series G1 financing was led by Chinese social media and
gaming Giant Tencent, with participation of Hillhouse
Capital, Boyu Capital, and IDG Capital, Yuanfudao said in a
statement. The series G2 was led by DST Global, and other
investors include CITICPE, GIC, and Temasek.
(Reporting by Yingzhi Yang in Beijing and Brenda Goh in
Shanghai; Editing by Kim Coghill)