Cash Capital-backed Squirrel AI Learning has raised tens of millions of dollars from investors including Susquehanna International Group and NGP Capital.
Squirrel AI Learning, a China-based tutoring services provider backed by Chinese Academy of Sciences, has secured tens of millions of dollars in a series C1 round, DealStreetAsia reported on Saturday citing a company statement.
The round was backed by quantitative trading firm Susquehanna International Group (SIG) and NGP Capital, the venture capital firm spun off from telecommunications technology firm Nokia, as well as Citic Securities, a subsidiary of investment group Citic.
Squirrel AI Learning produces artificial intelligence-powered adaptive learning software to offer after-school tutoring services. It is unclear what it intends to do with the series C1 capital, but it said it was already in the process of raising series C2 financing.
The company raised $4.5m in a seed round in 2015 backed by Qingsong Fund, ZH Magnetic System and private investor Minhong Yu.
Cash Capital, the venture capital arm of Chinese Academy of Sciences, participated…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
