According to people familiar with the matter, China-based online mathematical thinking education company Huohua Siwei has closed a new funding round with US$150 million. In response, Huohua Siwei suggested that the company has no comment on this matter currently.

While the news has been confirmed by Li Qiu, deputy director of the Optics Valley Internet+ Office of Wuhan East Lake High-tech Zone Management Committee, and he told JMDedu that Huohua Siwei’s business in Wuhan has fully resumed. Following the leading education companies such as TAL, Zuoyebang, and Yuanfudao, Huahua Siwei established a second headquarters in Wuhan Optics Valley in June 2018.

Founded in 2017, Huohua Siwei taps into the Math and Logic Education for students from 3 to 12-year-old with the teaching model of small-sized online classes. The company has closed D round of financing with USD85 million in August 2019 and has raised USD30 million from Kuaishou early this year.

With advantageous competition in the market, Huohua Siwei further expanded its business to the Chinese language courses in July 2019. According to the statistics disclosed, the renewal rate and full-class rate of Huohua Siwei highly reach 75% and 96%, respectively. Luojian, the founder of Huohua Siwei, announced that the revenue of this March broke through 150 million dollars, which set the new monthly income record.