Chinese playground operator Yuyuto raises $32m
Shanghai Yuyuto Entertainment Facilities, a Chinese company that operates children’s entertainment and retail facilities in shopping malls, has secured RMB200 million ($32 million) in a new round of funding from Fortune Venture Capital, Shenzhen Cowin Capital, TCL Industrial Funds, and Mountain View Capital.
Other domestic investors, including GF Securities, also participated.
Founded in 2010, Shanghai-headquartered Yuyuto has three main businesses: Yuyuto Play System, a chain of children's playgrounds; Yuroro Ice Rink", a chain of indoor synthetic ice-skating rinks for children; and Spring Valley, a group of stores selling a wide range of early childhood and maternity products.
In flagship shopping malls located in major cities, Yuyuto also operates theme-park facilities of approximately 21,000 square feet in size, containing all three brands as well as early educational centers. In mid-size malls, the firm operates installations of approximately 7,500 square feet with two brands.
Until the end of last year, it has established over 200 outlets across China and received 8.2 million annual visits.
In February, Shenzhen Cowin, Infore Capital and Mountain View Capital invested RMB45 million in Yuyuto, according to AVCJ Research.
With new shopping malls opening in China, the demand for children's playground facilities is increasing. The new capital will be used to enhance Yuyuto's competitiveness in the industry, which includes upgrading its facilities and services, Bing Xiao, a managing partner at Fortune Venture Capital, said in a statement.
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