Fosun Kinzon leads $23m round for China’s Huivo
Fosun Kinzon Capital, a VC arm of Fosun Group, has led a RMB150 million ($23 million) extended Series B round of funding for Huivo, a Chinese online education solutions provider for kindergartens.
TAL Education Group also participated in the round. Furthermore, Huivo plans to set up an industry fund to develop educational content for kids, 36kr reported.
Founded in 2011, Beijing-based Huivo develops multi-screen interactive education systems, online courses, and online learning applications for kindergartens. Last year, it launched a new communication tool - Kidstory - for schools and parents to keep up with children's learning processes.
Since inception, Huivo claims to have served more than 10,000 kindergartens with over 100,000 teachers, and has two million parents registered on its platforms.
Last June, the company secured RMB120 million in a Series B round to develop its distribution channels and content. This extended round will be used to expand partnerships with Chinese kindergartens and improve teaching materials.
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