Beijing-based education technology startup Yuanfudao said on Thursday that it has secured $2.2 billion from major Chinese and international investors in two recent rounds of financing that it said lifts the company's valuation to $15.5 billion.
One round of financing was led by Chinese social media and gaming giant Tencent, with participation from Hillhouse Capital, Boyu Capital and IDG Capital, Yuanfudao said in a statement. Yuanfudao raised $1.2 billion in the round, Reuters has reported.
A second round was led by DST Global, and other investors include CITICPE and Singapore investors GIC and Temasek.
