Maternal and infant family service provider Mumway recently has raised 50 million yuan in its Series A round of financing from Hubei WE Investment Management and IDG Capital. The fund will mainly be used to further increase the capacity for operating a large-scale business, improve services, and gradually tap into OMO of the vocational education business.
Founded in 2014 in Beijing, Mumway is positioned as a vocational education company focusing on maternal and infant practitioners, as well as a family service provider. It has opened 35 offline teaching and training centers across the country, covering major domestic first- and second-tier cities, and some third- and fourth-tier markets. In the next three years, Mumway intends to expand its business by setting 50 new stores annually.
Xiao Zhewen, the founder and CEO of Mumway, said that the services supplied in the maternal and infant industry have been uneven and relatively scattered for a long time. Xiao believes soon, the sector will develop towards a centralized market. “Unicorns will stand out, and Mumway has great potential and strong competitiveness.”