Chinese online education firm Knowbox announced on Thursday it has raised $150 million in it's Series D round of financing, right after the country released its first guideline on online after-school tutoring.

The fresh round was led by tech giant Alibaba Group. Yunfeng Capital and Bertelsmann Asia Investments and C Ventures also are among investors.

With the new fundraising, Liu Ye, founder and CEO of Knowbox, noted that the firm will continue to ramp up artificial intelligence efforts to offer a better user experience. China Taihecap continued serve as exclusive financial advisor in the transaction.

Established in 2014, Knowbox targets K-12 education to help students learn by providing personalized exercises through apps. At present, it has entered 100,000 schools across China.

Source: http://www.chinadaily.com.cn/a/201907/18/WS5d302f15a310d830563ffc34.html