Orient Speech Therapy (OST), a provider of Chinese speech and language therapy for kids, has garnered $23 million
in its Series C1 round of financing led by Chinese healthcare-oriented investment firm Cenova Capital.
Returning investors Northern Light Venture Capital and Long Hill Capital re-upped in the current round, the latter said in a WeChat post on Friday.
Northern Light, Long Hill, F-Prime Capital, and Eight Roads had together poured $25 million in a Series B round
funding in OST in 2017. In 2015, Eight Roads partnering with F-Prime Capital had collectively invested an
undisclosed sum in OST’s Series A round.
Investment bank Taihecap served as the exclusive financial advisor for the latest funding round.
The proceeds of the round will be invested in direct sales centres expansion, R&D of products, online services
innovation, and training systems enhancement.
OST, which claims to be the largest chain brand in the industry in mainland China and Hong Kong, is designed to
develop efficient and sustainable speech and language treatments for kids suffering from communication disorders
and autism.
The company registered in Hong Kong in 2007 and operates over 40 direct-sales stores across 20 cities in mainland
China. It has served over 200,000 kids.
South Africa Today
Read more at VolaNews
