Chinese live tutoring app Yuanfudao is now worth $15.5 billion

Yuanfudao, a homework tutoring-app founded in 2012, has raised $2.2 billion from investors, surpassing Byju’s as the most valuable edtech company in the world. The Beijing-based company is now worth $15.5 billion dollars, almost double its valuation set in March.

The company views the new capital as two separate extension rounds of its March raise, a $1 billion Series G financing event. The G1 round was led by Tencent with participation from Hillhouse Capital, Boyu...