Kids coding education platform Codemao receives USD 18M for Series B
Founder: Li Tianchi
Founded in: 2016
Financing status: RMB 120 million (USD 18 million) in Series B financing in 2017
Kids coding education platform, Codemao, received USD 2.2 million for financing on November 17 to design a new programming language for its coding education.
Codemao is a kids coding education platform that mainly provides child’s education programming, made up of online learning, summer and winter camps, and competitions, based on science and technology topics for teenagers. Additionally, it also holds international programming events and graphical programming techniques for kids between age 6 and 16.
Founded in 2017 in Shenzhen, so far its online platform has more than 200 classes (1 hour per class) available, which covers 11 topics of curriculum content. Meanwhile, it has so far attracted more than 300,000 users, one third of which are active monthly by June, according to data from the company. In addition, over 650,000 programming works released on its platform are from its teenager users.
Codemao is also trying to expand its business and services overseas. It has partnered with schools in Southeast Asia to enter the market and acquire users overseas.
This new financing round was led by Hillhouse Capital, with Crystal Stream, Qinghan Fund and Cheetah Mobile participating as investors. The capital will be used to design a new programming language for kids coding education, as well as expand to overseas markets to facilitate its business and revenue.
Convenience store startup Today receives USD 30M for Series B
Founder: Song Yingchun
Founded in: 2014
Financing status: RMB 200 million (USD 30 million) for Series B financing in 2017
Convenience store startup, Today, received USD 30 million for Series B on November 20 to introduce big data technology and cloud computing support to its convenience store management.
Today is a convenience store startup that offers fresh food breakfast, Chinese food, snacks, afternoon tea, and so on, as well as other general instant foods. The company mainly opens convenience stores around city centers, as it wants to attract mainly young customers. Meanwhile, the company also invites web celebrities and fashion insiders to endorse its brand through live streaming videos.
Founded in 2014 in Wuhan, it has so far opened over 300 round-the-clock convenience stores in China with average daily sales of more than RMB 12,000 per store. It also has its own fresh food factory and logistics system so that it can supply its convenience stores more efficiently.
Today’s retail business has franchise deals with its partners to open new convenience stores, and provides commodities and management services for its existing partners. Meanwhile, it charges four percent of revenue for its existing partners.
Previously received financing from Sequoia Capital, and this Series B financing round was led by ChinaEquity Group, with several existing investors participating. The company plans to use the funds to expand its business to more cities, further invest in the establishment of supply chains, as well as introduce big data and cloud computing technologies to increase the efficiency of management of its convenience stores, and improve the precision of retail on its stores.
(Top photo from 699pic.com)