The Fosun and TAL Education-backed parenting app developer has secured $38.6m from two China-based venture capital firms.

QinBaoBao, a China-based parenting app developer backed by education provider TAL Education and diversified conglomerate Fosun, raised RMB250m ($38.6m) in series D funding yesterday, DealStreetAsia reported. Venture capital firms Fortune Capital and Shenzhen Capital Group provided the funding, which will support the company‚Äôs product design, supply chain and market development activities, according to DealStreetAsia. QinBaoBao…

The rest of this content is only accessible to Corporate Venturing: News, Data, and Events - Global Corporate Venturing Subscribers.

This content is only accessible to subscribers. If you are a subscriber, please sign in. Otherwise, if you would like to try before you buy and haven't previously taken out a free trial, you can do so below. You can also see details on subscriptions by clicking the Subscription Options button.