Alibaba Group Holding Ltd. invested US$150 million in Knowbox, a Beijing-based online education startup, KrASIA reported, citing 36Kr.

Founded in 2014, Knowbox provides online math test banks to its users, which include students, parents and teachers. The startup teaches mathematics via games and contests. Knowbox founder Liu Ye reportedly said the company wants to use technology, such as artificial intelligence, to "change education."

Some of the company's backers include YF Capital, Legend Star, TAL Education Group and JD.com Inc. founder Richard Liu.