AW Education International today announces its Series B round of financing with 200 million yuan led by RiverHead Capital. After this deal, the company will keep on digging into one-stop international education services, especially for K-12 students.Plus, it will develop more businesses, including related internships, scientific competitions, art study abroad, and other projects.
Affected by the COVID-19 pandemic and the global situation, many students have to suspend their application for studying abroad during the last six months. Thus the overseas study service agencies have also been suffering from the downturn.
AW Education International told JMDedu that the major Business for study abroad is the application for Ph.D. and Master programs, which is also being forced to bear the brunt amid the crisis. In contrast, the study abroad service for K-12 students was almost not affected.
According to the Report on Chinese Students’ Overseas Study, which was released by New Oriental recently, nearly half of the interviewees intend to study abroad before the stage of higher education.
Moreover, although Business is still the most popular major among intentional students, its popularity has shown a downward trend, while the prevalence of Science and Art majors has shown an upward trend. This is mainly due to the improvement of national living standards, and students are paying more attention to the pursuit of interests and hobbies.
Sun Tao, president of Vision Overseas Consulting, believes that the COVID-19 pandemic has had a significant impact on students' plans to study abroad this year, but students' long-term enthusiasm and demand will not be dampened.