Tencent Adds Another Edutech Startup To Their Portfolio With $40M Investment

China’s cutthroat education system is a breeding ground for Chinese K-12 education startups. The country’s exam-heavy system particularly gives rise to startups that focus on helping students improve their test scores.

Online education startup Yuanfudao (猿辅导), which targets China’s middle school and high school test takers, announced a $40 million USD boost from Chinese tech giant Tencent on Tuesday.

Last March, the Beijing-based startup raised a $60 million USD round of Series D funding from IDG, Matrix Partners, New Horizon Capital and CMC Capital Partners.

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