Playnovate(玩创Lab), a China-based educational resource technology company producing game-like applications, today announces that the company has raised tens of millions of yuan from original shareholders Heritage Wisdom Limited and Happiness Capital in its Series A+ round of financing. Previously, Playnovate’s Series A funding round was led by Heritage Wisdom Limited, with Happiness Capital also participating. According to Playnovate, the latest fund will be used for AI product development, Chinese market promotion, and overseas market expansion.
Founded in September 2015, Playnovate uses science and interesting content to cultivate kids’ scientific thinking and creativity. The learning system helps kids think inventively and apply their knowledge into practice. Since June 2017, the company has started 1-on-6 live-streaming teaching with home-delivered supporting resources.
Playnovate’s course standards are based on the Next Generation Science Standards (NGSS) and China’s Compulsory Education Primary School Science Curriculum Standards and are compatible with the Compulsory Education Mathematics Curriculum Standards.
At present, the renewal rate of its core courses exceeds 85%. Apart from the 1-on-6 live-streaming course, Playnovate launched an AI creative course in July this year. The new product takes application as a platform and combines animation and real scenes videos, simulating the real scientific exploration and thinking process through human-computer interaction.
As of June 2020, Playnovate has more than 150,000 domestic users, distributed in 422 cities across the country, and has cooperated with more than 100 primary schools in STEAM courses. For the overseas market, Playnovate’s courses are in different languages including Chinese, Mongolian, English, Spanish, etc. With a dual-teacher model and professional teaching aids, the company now has tens of thousands of users in nearly 10 countries and regions such as United States (Silicon Valley), Canada, Singapore, Malaysia, Guatemala, etc.