Chinese education app has received a $20 million investment

Fresh Chinese XueXiBao educational startup that developed the application for recognition of educational materials and search for more information, became the object of considerable investment.

That venture investment Fund SoftBank China Venture Capital has invested in education startup such a large sum (for comparison, American EdModo last year received about $30 million of investment), reports TechCrunch.

XueXiBao is a mobile app for iOS and Android, designed for high school students, University entrants and students of universities. XueXiBao (which translated from Chinese means “treasure of knowledge”) helps to quickly solve problems in math, science or English.

How the app works?

Students upload into the application text, equations, graphs and other information in the form of images and technology of recognition of images and symbols provides ready answers to challenges. The developers claim that the app processes a query in 6 seconds, and the recognition accuracy reaches 95%. Already there are small attempts to monetize the service, the app now has a “Questions and answers” in which students for a small fee you can ask spoken questions to teachers and receive detailed answers.

Not so long ago we wrote about the app PhotoMath (camera calculator and math assistant) developed by MicroBlink (Real-time text recognition for mobile apps), which is directly involved in the technologies of text recognition. This software is using OCR technology (optical character recognition) recognizes the printed formulas and equations (on paper or on the screen) and gives ready-made solutions. The release of the mobile app PhotoMath has caused a great resonance in the media, once in focus and Forbes, and Times, and Cnet. It’s simple: children and adults continue to dream about what computer technology will finally learn the human perception and can speed up the process of processing the input information without having to interpret it into machine understandable form. The same IBM has long worked on a self-learning supercomputer Watson, which can handle the queries, given in human language, and issues the decision on the same human language.

What will come out of this small Chinese startup, is unclear; but judging by the volume of attracted investments, developments programmers XueXiBao seem very promising.