Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Trending in China: Social Media Comes Out in Support of High Quality Fakes
Xiaomi-Backed IoT-Enabled Appliance Maker Sees Revenues Grow While Profits Slump
Chinese Startup WeRide Reports Promising Robotaxi Results
Trending in China: God recalls his hand – tributes to Maradona from Chinese social media after his death
Tesla to Manufacture Electric Car Chargers in China
China Restricts Livestreaming Spending and Blocks Underage Users from Tipping Performers
TikTok Granted One-Week Extension of Forced-Sale Deadline
Chinese Online Language Educator 51Talk Speaks the Language of Profit
Trending in China: Are Elderly ‘Collateral Damage’ in Increasing Technological Cashless World?
Trending in China: Black and White ‘Little Miracle’ Born to 22-Year-Old Panda in Washington
Facing U.S. Sanctions, Huawei May See Global Smartphone Share Slump to 4% in 2021
Chinese LGBTQ Dating App Owner BlueCity Acquires Youth-Focused Gay Platform Finka
Xiaomi-Backed Smart Wearables Maker Huami Sees Profits Slump Despite Revenue Growth
Baidu Maps Illegally Using Other Chinese Firm’s Mapping Info, Court Finds.
U.S.-Listed Chinese Electric Scooter Maker Niu Rides to Higher Profits
Chinese E-Commerce Firm Ruhnn Focusing on Online Celebrities Sees Losses Narrow
China’s Kaixin Nears 1000% Annual Gain on Electric Vehicle Rally
Trending in China: Baidu Blocking Caixin’s Criticism of Search Engines Goes Viral
Trending in China: Should Restaurants Be Free to Pick and Choose Their Customers? The Strange Case of ‘Reverse Sexism’
Codemao Raises $198 Million to Teach China’s Youth Computer Programming
Chinese Edtech Firm Huohua Siwei Bags $100m Series E2 Led by Tencent

By DealStreetAsia / Oct 13, 2020 12:33 PM / Finance

Photo: VCG

Photo: VCG

Beijing-headquartered online K12 mathematics and science education platform Huohua Siwei has announced the completion of a $100 million Series E2 round led by Chinese tech giant Tencent Holdings’ investment arm Tencent Investment, the latter announced on WeChat on Monday.

This brings the amount raised by Huohua in seven rounds of fundraisings to $440 million, including $250 million in two tranches of Series E, Luo Jian, CEO, Huohua, said in an internal employee letter.

US global investment firm The Carlyle Group’s sub-fund and Tencent-backed Chinese online education player Yuanfudao also participated in the Series E2 round.

The latest round comes after it garnered $150 million in a Series E1 round of financing led by New York-based private equity powerhouse KKR & Co, with participation from GGV Capital, GSR Ventures, Longfor Capital, Sequoia Capital China, and IDG Capital, in August this year.

Huohua, which was co-founded by Luo Jian in 2017, curates AI-driven online and interactive mathematics and science courses mainly for students aged between three and 12 years. The platform is ramping up efforts to develop multi-disciplinary courses including Chinese language and literature, and English learning.

The platform, in April this year, secured “tens of millions of US dollars” in a Series D+ round led by Chinese leading video-sharing app Kuaishou in efforts to facilitate AI and live-streaming capabilities.

It enrolled 250,000 students, with 85,000 regular users on a daily basis, said Luo in the statement. He had claimed in August that Huohua retained a subscription renewal rate of 80 per cent and generated about 200 million yuan ($29 million) in monthly revenues.

“The increasing efforts in AI-enabled, multi-disciplinary courses can provide more advanced education services to students,” said Haiyang Yu, managing director, Tencent Investment, in the statement.

Huohua’s early-stage investors include Northern Light Venture Capital, Lightspeed China Partners, and Hike Capital.

Contact reporter Yang Ge (

Related: Chinese Online Educator Zuoyebang Receives $750 Million Investment

Share this article
Open WeChat and scan the QR code