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IDG Capital co-lead a $15 million Series C1 funding round in Shenzhen Acadsoc Information Co., a Chinese online learning platform. Founded in 2013, Acadsoc offers one-on-one English tutoring service to children, adults and students hoping to study overseas. The company currently has more than 40 million students in its customer base and employs more than 6,000 full-time tutors in the U.S., the U.K, Australia and the Philippines, More than 50% of its tutors are Philippines-based.
Fourier Intelligence, a Shanghai-based startup, is working to develop an affordable exoskeleton for potential use in China by more than 85 million disabled citizens. Exoskeleton are now sometimes priced as high as $500,000, but Fourier hopes to develop a model for sale for as low as $20,000, according to Ken Zoh, deputy CEO. IDG Capital joined Fourier’s Series A funding round in 2018.