Chinese technology company Baidu has led a $50 million Series C funding round in Kaishu Story, a podcast content production company.
Other backers that participated in the funding round include New Oriental and TAL Education, as well as Shanghai Kunyan Investment.
With the latest financing deal, Baidu seeks to tap on Kaishu Story to introduce more quality children’s educational content on its applications and platforms, especially on its smart speaker system.
In March 2018, Kaishu Story completed a $23 million funding round, valued at $232.6 million.