Hetao101, which offers coding and programming lessons for children, has gained 353 million yuan ($50 million) in a Series B round of financing led by China Renaissance and Hillhouse Capital, with participation from United Media FOFs, We Capital, Source Code Capital and XVC, according to a company statement on Wednesday.
Hetao101, formally known as Beijing Smart Walnut Learning Technology, provides coding lessons to kids aged six to 12 through its online platform.
The company plans to deploy the funding proceeds to develop AI-focused applications and upgrade technology.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on October 23, 2019.