Kid programming education provider iandcode(和码编程) recently has raised tens of millions US dollar from WANXIN Capital in Series A round of financing. According to Mo Jianbin, the founder of iandcode, the latest fund will be used to improve curriculum content research and development, product iteration, and business expansion.
Apart from the South China region where the company’s headquarters is located, iandcode will strengthen its business layout in the areas around Yangtze River Delta in the second half of this year and continue to focus on the markets in the second- and third-tier cities.
Founded in 2018, iandcode provides online AI coding courses for students from 6 to 12-year-old, positioning its product as “discipline + programming” to cultivate children’s mathematical ability.
At present, iandcode’s cumulative user has exceeded one million, and the renewal rate is about 60%. Starting to charge course fees since January last year, iandcode’s monthly revenue has surpassed 20 million yuan at the current stage, and annual revenue increased by 36 times in 2019.
“Children’s coding education market still has a large space.” said Mo Jianbin. With policy support and parents’ increasing acceptance, there are lots of opportunities awaiting exploration outside the first-tier cities.