Chagall Art Education(夏加儿艺术) targeting at children from 3- to 16-year-old announced yesterday its Series B round with tens of millions yuan invested by Shanghai-based Huihong Capital(汇竑资本). Founded in 2009, the company now has around 750 offline training centers serving more than 100 thousand students across the country, and the latest funds will be used for continuing its OMO(Online-Merge-Offline) layout.
As for the previous exploration, Chagall Art released “Art Calendar(《艺术日历》)” in November 2018 for art education from home through online audio lessons covering 360 points of knowledge. In January 2019, “Dual-Teacher STEAM Class” has been launched to provide diversified educational resources combining offline and online scenarios. Last August, Chagall Art involved foreign teachers to offer live broadcast lectures, and four months later, self-developed mini-program has also been released that allows parents to check kids’ learning performance according to the data record.
Coronavirus outbreak continues to surge in China and is inflicting on the local economy. “The reason why we invest in Chagall Art Education amid such an environment is due to its mission, ‘cultivating children to be future talents by art education’, and we are also optimistic about its capacity of innovation and its attempt at migrating offline to online, as well as the long-term business value.” Said Lv Changchun, the founding partner of Huihong Capital.
Reviewing previous financing rounds, Chagall Art accomplished an angel round from Xijin Capital in 2015 and was invested by A-shares listed company Only Education(600661) in 2016. Successively, the company raised tens of millions yuan from Huawei Equity(骅伟股权) in Series A+ round, and in 2018, Chagall Art completed A++ round invest by Shanghai Media Group(SMG).