Singapore-based online Chinese language learning platform LingoAce has raised $6 million in a Series A+ round led by Sequoia Capital India.
Shunwei Capital, the venture capital fund co-founded by Xiaomi founder Jun Lei, also joined the round as a returning investor, according to a press statement. The Beijing-based VC firm had previously invested $7 million in the company’s Series A round in June 2020.
Founded in 2017, LingoAce is a premier Chinese language learning platform that helps students aged between 6 and 15 to learn Mandarin online. It has a team of in-house curriculum specialists who tailor globally-accredited syllabus in line with China and Singapore’s education ministries. The startup claims to have more than 2,000 certified teachers on its platform and delivered lessons to more than 100,000 students across 80 countries.
LingoAce aims to help make the world a better place through the joy of language learning. It believes that learning Chinese should be more than just learning the language, and provides a platform to explore a whole new culture, imagine new possibilities, and create a lifetime of opportunity. The platform features multimedia and gamification features and artificial intelligence-powered tools.
Commenting on the funding, Hugh Yao, Founder and Chief Executive Officer of LingoAce, said in a statement,
“These funds come at an opportune time as we expand to meet rising demand in the region amidst the current pandemic. We see tremendous opportunities to continue developing our online Chinese learning platform as well as growing our footprint, while streamlining our growth and setting up our additional education research centre in Singapore.”
The company plans to use the fresh funding to accelerate its expansion in Southeast Asia, as well as to build its technology capabilities and recruit talent. It plans to expand to Jakarta and Bangkok. The Singapore-headquartered startup currently has offices in Beijing and Wuhan, as well as in Los Angeles. LingoAce had earlier said that it has already reached a few customers in Thailand, the Philippines, and Malaysia through its office in Singapore.
LingoAce had last raised $7 million in Series A round from Shunwei Capital in June. Prior to that, the company had raised $3 million following an angel round in 2018 and a Pre-series A round with Decent Capital in 2019.
