Children's storytelling startup raises $66m in fundraising

KaiShu Story, a Chinese startup focused on children's storytelling, announced on Wednesday that it has raised $66 million in series C plus round of fundraising.

Led by Trustbridge Partners, the round also attracted Singapore investment institute Temasek Holdings and Loyal Valley Innovation Capital. China TH Capital assists as its exclusive financial advisor.

With the entry of foreign investors, industry insiders said that the move showed that such a business model is expected to gear up more potential in foreign markets.

"The company's ability to continuously create high-quality content was verified once again. The firm is expanding from children's content-only to an education firm, which shows its potential in future development," said Ye Chunyan, partner of new consumption at Loyal Valley Innovation Capital.

Jiang Ke, partner of China TH Capital, added that not only does the company have an attractive business value, it is embedded with traditional Chinese cultural value, and pays its social value by offering free content to children in rural areas.