糖心视频

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Subscribe to the Crunchbase Daily

Zuoyebang lands $1.6B for online education

China-based online learning app announced that it has raised $1.6 billion in a Series E+ funding round, bringing total known investment to date to around $2.9 billion.

Backers in the round include , , , and . The latest investment follows a $750 million fundraise in June. The funding comes as online education remains a red-hot sector for venture investment.

Founded in 2014, Beijing-based Zuoyebang focuses on online courses and homework help for kindergarten through 12th grade students and claims around 170 million monthly active users.

Other news

• Indian startups brought in $9.3B in 2020: Indian startups so far in 2020, according to data from research firm . The totals are down significantly from 2019, when startups in India brought in an estimated $14.2 billion.
• China orders Ant Group to revamp business: Chinese regulators fintech giant to fix a number of professed business failings. The move follows the government’s intervention to halt the company鈥檚 plans for a record-breaking share listing last month.

Illustration: