Onion Math Raises $44.5 Million to Add More Content to Education Videos...

Financing

Onion Math Raises $44.5 Million to Add More Content to Education Videos Platform

Apr 30, 2019

GREEN ONION: Onion Math, a Beijing-based provider of an animated education video platform for math and other subjects, has raised 300 million yen (about $44.5 million) in a Series D round led by Primavera Capital Group. Other participants include Kunlun Tech, Frees Fund, Legend Capital and Lighthouse Capital Partners.

The company plans to use the money to add additional subjects to its platform, according to multiple reports. Onion has raised 600 million yen ($90 million) to date.

Founded in 2013, the company has over 1,500 animated video courses, covers 150,000 schools in all provinces and cities across China, and has served 20 million primary and secondary school students and 500,000 math teachers, according to a translated version of its website. Onion previously raised about 120 million yen ($17 million) in a Series C round with participation from Tencent Holdings and Junlian Capital.

Primavera previously invested in the Chinese homework help company Zuoyebang. Legend Capital also invested in Zuoyebang as well as Zhiyou Education and Xingshuai Teach.

  

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