Huike Edu Group Establishes Applied STEM Fund
Huike Edu Group recently established a RMB 1 billion (USD 158 million) “Applied STEM Fund”, aiming to bridge the gap between industry and education and build “industrialized institutions”. With the goal of achieving occupation-driven sustainable growth, Huike has invested in establishing a software institution with Chongqing University and Ali Yun (Alibaba Cloud). This will push its big data institutional education program into a number of Chinese universities, including Fuzhou Vocational & Technical Institute, Guizhou Institute of Technology and Beijing City University. Huike also signed a strategic partnership with Florida International University, a Miami-based public research university.
Huike has recruited experienced industry professionals as trainers and inserted their own curriculum and teaching course into the existing VET/university sector. It has also invested in a number of companies who are in the bio chain of the VET sector, including establishing a joint venture with the VR leader HTC Vive.
Huike, established in 2016 and initially focused on VR curriculum and training solutions, has completed its D round of fund raising, with a total of RMB 1.5 billion (USD 238 million) raised. Founder FANG Yechang is a former IBM employee with a PhD from the US.