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Hetao 101 has raised USD50 million in Series B funding
2019-10-23
Hetao 101, a programming education for children online platform, announces on Wednesday that it has raised US$50 million in a Series B funding round led by investment firm Huaxing GrowTaihecap under China renaissance and Asia-focused investment company Hillhouse Capital Group.
China’s Zhongyuan Capital, investment firm We Capital, tech-focused venture capital firm Source Code Capital and Chinese venture capitalists XVC also participate in the funding round. China Taihecap served as exclusive financial advisor in the transaction.
Proceeds will be used to optimize its AI teaching service and upgrade technology.
The round comes less than eight months after Hetao 101 raised RMB120 million (US$17 million) in a series A+ round of funding by Source Code Capital, Hillhouse Capital Group and XVC in February. It claims to be the biggest amount of funding round in children’s programming education in China. Founded in 2017, Hetao 101 provides online programming classes for 6 to 12 years old children.
