Massive open online course provider XuetangX, a Tsinghua University spinout, has sealed series B funding to bring its lifetime haul to $46.9m.
XuetangX, a China-based mass online education spinout of Tsinghua University, has obtained more than RMB100m ($14m) in a series B round led by investment firm Muahua Capital, DealStreetAsia reported on Friday.
Gaorong Capital and Redpoint China Ventures also participated in the series B round.
Founded in 2013, XuetangX has created an online platform that administers education courses to large, open classes – a curriculum model known as the massive open online course. It has more than 30 million registered users across approximately 2,600 education programs.
Tsinghua University is among its Chinese academic partners, as are Peking University and Fudan University, and the platform also partners institutions in the US, as well as other international markets.
The series B capital will go to developing artificial intelligence-powered functionality for XuetangX’s platform. Proceeds will also help launch additional courses and explore a new strategic model for delivering online education.
