Beijing-based online content provider Kaishu Jianggushi, also known as Kaishu Story, has closed its USD 66 million Series C+ round led by Trust Bridge Partners and joined by Singapore-based Temasek, Chinese media outlet TMTPost reported on Wednesday.
The company’s Series B round investor Loyal Valley Capital also contributed funds. The investment was sealed only months after the firm closed its USD 50 million Series C round led by Baidu in July 2019.
Kaishu Jianggushi was set up in 2014 by Wang Kai, a former presenter at China’s state-run television network CCTV. It offers free or paid audio content of children’s stories via its app and WeChat account. The firm also allows its users to participate in group purchases of various products, including books, toys, and telescopes.
This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.