Meishubao, an education brand owned by Beijing Yiqi Network Technology, said on Tuesday that it has completed its $40 million C1 fundraising led by Tencent.
Existing investors including Bluerun Ventures, Hony Capital, Welight Capital and BHG Long Hills Capital all joined the round.
Meishubao is an online drawing education platform, which targets children between kindergarten age up to 12 years old. Founded in 2014, the company has 6,000 online teachers. Children can post their artwork online, and receive teacher’s comments within the app.
It began its one-on-one drawing education service last year. Meishubao claims about 40,000 students at the moment and monthly sales...