Consumer Discretionary Author: Yiru Qian Apr 27, 2022 04:16 PM (GMT+8)

The proceedings would be invested in automatic teaching techniques, courses development and team expansion.

education

Chinese EdTech company ForChange (Chinese: 风变科技) announced on April 26 that, it has bagged tens of millions of CNY from BoC&Utrust Private Equity Fund Management in the Series B+ round of financing.

Founded in 2015, this Shenzhen-based EdTech company specializes in providing technical solutions for enterprises, governments, universities and individuals in the vocational education industry.

It has entered into deep cooperation with UNESCO Asia-Africa Centre, Southern University of Science and Technology, Shenzhen University, Zhejiang University and other top-notch institutes. Ping An Bank and Alibaba Group are also its partners.

Previously, it has received three rounds of investments in total. In October 2019, ForChange fetched a valuation of hundreds of millions of CNY in a funding round led by GGV Capital, THE Capital and S&G Investment.

Benefiting from current policies and the need of high skilled talents by the enterprises in the market, the vocational education is expected to have plenty of room to grow.

The current competitive rivals in the vocational training track include Sequoia-backed Yunxuetang which received USD 190 million in March 2021, IDG-supported Fenbi Education and Tencent’s Golden Education.