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China’s NetDragon bags US$52.2M Series A investment

January 7, 2015

<via e27>

The online education subsidiary of China’s NetDragon yesterday announced that it has raised US$52.2 million in Series A funding, with participation from IDG Capital Partners, Vertex Venture, and Shenzhen-listed animation producer Alpha Animation.

The new round values the subsidiary at US$477.5 million. The funds will be used to accelerate product development and solidify its ‘first-mover advantage’ in disrupting the online education space in China, said an official release.