Singapore-based Chinese learning platform, LingoAce has secured US$ 6M in a Series A+ funding round held in November 2020, led by Sequoia Capital India. Shunwei Capital also participated in the funding round.
Proceeds from the funding round will be used by the startup to fast-track its expansion in Southeast Asia, improve its technology capabilities and hire individuals. It will be commencing operations in Jakarta (Indonesia) and Bangkok (Thailand) to cater to the rising demands of Chinese language learning in the areas.
Founded in 2017 by Hugh Yao, LingoAce offers a tailored and interactive Chinese learning platform to students aged 4-15. The startup customizes the globally-ascribed syllabus offered by China and Singapore’s education ministry in order to fulfill individual learning goals and cultural backgrounds. Its platform enables its carefully chosen qualified Chinese teachers to deliver lessons in real-time across different countries in one-to-one and small group classes. With the use of multimedia, gamification features and AI-driven tools based on research-based methods for effective Chinese learning, the startup’s platform efficiently engages young learners and develops their interest in the language. So far, LingoAce has delivered lessons to more than 100K registered students spanning 80 countries. It employs over 2K skilled teachers and 420 workforces globally.
Apart from Singapore, LingoAce also has offices in Beijing, Wuhan and Los Angeles.
CEO Hugh Yao said the latest funds came at a favorable time as they are already expanding to meet increasing demand in the region amidst the existing coronavirus pandemic. They see marvelous opportunities to continue developing their online Chinese learning platform as well as expanding their footprint while rationalizing the startup’s growth and setting up a supplementary education research center in Singapore. He concluded by saying these steps will further push LingoAce towards its aim of becoming the top online Mandarin classroom for its students present worldwide.
About Sequoia Capital India
Bengaluru, India-based Sequoia Capital India is a venture capital firm that helps gifted founders to turn their startups into legendary companies. It operates in Southeast Asia and India where it actively partners with founders from an extensive range of companies, including BYJUs, Carousell, Druva, GO-JEK, OYO Rooms, Tokopedia, Truecaller and more.
Sequoia brings along with it 47 years of knowledge, expertise and lessons learned working with companies like Airbnb, Alibaba, Apple, Dropbox, Google, JD.com, LinkedIn, Meituan and Stripe early on.
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