November 30, 2020
My eg.com

Investment worth US$1.5 million made by MyEG Capital in Jingle Magic, Chinese edtech startup

MyEG Capital Sdn Bhd, the wholly- owned unit of My E.G. Services Bhd, otherwise known as MyEG will be investing in Chinese education technology group Jingle Magic (Beijing) Technology Co., a sum of 10 million yuan investment (about US$1.5 million).

The other investors who joined the latest funding round include Zhejiang Zhongdi Investment management, an affiliation of Tsinghua Holdings Group’s Muhua Education Fund and Xiaomi-backed venture capital firm Beijing Dianjing Zhiyuan Investment Center.

Last year MyEG invested in Guangzhou-based Ximmerse a sum of US$2.4 million. Post which this new investment is a second one of this genre. This reflects a keen interest in the ast- growing space of the Malaysian e- government services provider.

TS Wong, the managing director at MyEG said that schools in the future will extensively deploy AR systems to enhance the learning experience. Thus partnering with the likes of iFlytek and Tsinghua Group whoc are leaders in AR sectir and education sector respectively will prove to be beneficial in the shaping the future classrooms.

Jingle Magic was founded in 2016 and it develops Augmented Reality (AR), Virtual Reality (VR), and Artificial Intelligence (AI)-based education equipment and software Its key products and innovations include its AI-based AR smart desk, AI smart board as well as diversified Internet system infrastructure solutions for schools.

The company is known as a major AR/VR/AI and 3D Internet education platform provider in China, as well as a 3D (AR/VR) online education platform in China’s upcoming 5G internet era.

Backed by Anhui Kexun Venture Capital, a venture capital firm under iFlytek Co Ltd – China’s largest publicly listed AI company, Nantong Muhua Equity investment, and Beijing Yifan Taihe Venture Capital Center, the startup raised a financing round in 2016.

Gaurang Taylor

Gaurang Taylor has held a wide variety of positions at recognized hedge funds and financial services corporations in the United States and abroad. Following his M.A. in Economics graduation from University Of Michigan College in 1992, Gaurang gained his experience in the finance industry with a role as Credit Analyst for Manufacturers Chevron Corporation. More than a year later, Gaurang accepted an opportunity to enter the Information Technology Training Program at Morgan Stanley, after which he became a Financial Analyst for the firm. Mail me : gaurang.taylor@globepredict.com

View all posts by Gaurang Taylor →

Leave a Reply

Your email address will not be published. Required fields are marked *