Students at the Shichahai sports school attend a class in Beijing, China, May 18, 2016. REUTERS/Damir Sagolj/Files Chinese children’s reading app platform Koala Reading has announced the closing of a $20-million Series B funding round co-led by existing backer GGV Capital and XVC Venture Capital.
cloud - based Koala Reading has raised $ 20 m in a venture B funding round , led by GGV Capital and venture Venture Capital . The children 's reading learning platform will use the funds to upgrade its Chinese Graded Reading System learning Framework , improve the production of high - quality reading content , and expand the market . The start - up uses algorithms to create Chinese online reading by aligning texts to a difficulty level , while matching a child 's reading ability to personalised content and solutions . The Chinese online education market reached CNY200.3bn ( $ 29.1bn ) in revenue in 2017 .