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Minerva Project Raises $49 Million, Led by Chinese Investors

Minerva Project — the elite semi-online university — has raised $49 million of what it says will be a $70 million Series B round led by a consortium of investors from China: TAL Education Group, ZhenFund and Yongjin Group, along with previous investor Benchmark. The school teaches classes via online video, so it’s sort of virtual, but it also has students live together and travel to different cities. The first cohort started in September.

This article originally appeared on Recode.net.