Xiaomawang, China-based kid programming education service provider, announced today that it has raised 150 million yuan in the Series Pre-C round of financing, with the investor undisclosed. It is said that the fund will be used for content & technology development, the iteration of the curriculum system, as well as the acceleration of upgrading online business.
Founded in 2016, the company tapped into coding for kids with the teaching model of offline small-sized class. Currently, Xiaomawang has nearly 70 offline direct centers in more than 20 cities across the country, reaching an offline single-month revenue of 60 million yuan.
During the past years, Xiaomawang has constantly launched new products covering teaching, competition-based training, campus cooperation, and overseas study tours. Although the company was forced to suspend its offline centers, the online business has witnessed a rapid growth amid the epidemic. According to Wang Jiangyou, CEO of Xiaomawang, single-month revenue of online service in February has exceeded the total revenue of that in 2019. Up to now, the company has more than 100,000 students from both ends of online and offline.
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