Chinese MOOC Platform XuetangX Raises Series B Funding Round
2019-12-12 18:17:50

XuetangX, a Chinese MOOC platform, today announced it has closed Series B funding round of more than 100 million yuan led by MOOC-CN Capital, with participation from investors including Gaorong Capital and Redpoint China Ventures.

The latest funding will be used to promote research on AI application in education, develop and bring into more high-quality courses, as well as look for a new model for online education growth, said Fan Xin, vice president of Tsinghua Holdings and chairman of XuetangX.

Nie Fenghua, president of Tsinghua Holdings Co, Ltd and chairman of MOOC-CN Education, said Tsinghua Holdings will strongly support the growth of XuetangX to help build it into a leading lifelong learning platform.

Launched on October 10, 2013, XuetangX is the first Chinese MOOC platform. It was initiated by Tsinghua University and the platform of MOE Research Center for Online Education. It also serves as a platform for communication and the application of research in the field of online education.

It is run by MOOC-CN Information Technology (Beijing) Co, Ltd., which is invested in by Tsinghua Holdings.

More than 2,600 quality courses from top universities such as Tsinghua University, Peking University, MIT, Stanford University are currently offered on the platform. Universities including Tshinghua and MOOC platforms such as edX have exclusively licensed XuetangX to offer their courses in the Chinese Mainland. The company has reached 30 million users to date.

The Chinese MOOC platform is aiming to solve pain points during teaching process by integrating smart education software and hardware. Rain Classroom, an app designed to be used in a blended learning model, has reached 18 million teachers and students. This free tool allows students to interact with their teachers in and out of class using their smartphones.