China's NetDragon bags US$52.2M Series A investment
Summary
The funds will be used to accelerate product development and solidify its ‘first-mover advantage’ in disrupting the online education […] The online education subsidiary of China’s NetDragon yesterday announced that it has raised US$52.2 million in Series A funding, with participation from IDG Capital Partners, Vertex Venture, and Shenzhen-listed animation producer Alpha Animation. The funds will be used to accelerate product development and solidify its ‘first-mover advantage’ in disrupting the online education space in China, said an official release. However, not much innovation has happened in this sector over the past several years,” said Tay Choon Chong, Managing Director and Chief Investment Officer, Vertex Venture. The Economist recently pointed out that despite a deeply ingrained reverence for traditional education institutions in China, the trend towards online learning is beginning to catch on, with an estimated seven million students in the country having just entered into university in September. This post was originally published on e27 Photo Credit: Shutterstock/ Digital tablet and apple on the desk in front of blackboard