Chinese edtech firm Kaikeba secures $93m in Series B1 round
Summary
While it didn’t disclose the names of the investors, it said Chinese investment bank Taihecap facilitated the transaction. Kaikeba, which believes it can help users achieve sustainable career development, is ramping up efforts to transform itself from IT-related online education services to offer multi-discipline courses in fields of design, data intelligence, human resource, engineering, and management, among others. Kaikeba offers live-streaming classes, pre-recorded short videos and an online interactive community as it gears up to provide personalised learning experiences. Launched in 2013 by Huike Group, Kaikeba claims to have garnered 5 million premium memberships, alongside 3,500 teachers. According to a report by Chinese market research institute 100ce.cn, the country’s vocational education industry saw funding worth 4.34 billion yuan ($670 million) in the first half of this year.