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’s product design, supply chain and market development activities, according to DealStreetAsia. QinBaoBao…

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