Knowbox, a Beijing-based education platform, said on Thursday that it had closed a $150 million Series D fundraising deal, to develop artificial intelligence AI.
Alibaba led the round of investment, joined by Jack Ma’s investment fund Yunfeng Capital, Bertelsmann Asia Investments, and C Ventures.
The fundraising proceeds will mainly be used to develop AI with the ability to create online classes on a massive scale, to save costs. By using AI, it is possible to create customised services for students without charging them a higher price.
Having the ability to save on costs is crucial for any online...
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