Kuaishou invests USD30m in online education startup Huohua Siwei

Huohua Siwei has recently received a USD 30 million investment from Kuaishou. It is worth noting that this is Kuaishou’s second investment in education startup (previously Kuaishou had invested 50 million yuan in Intelligent Learning).

Huohua Siwei has recently received a USD 30 million investment from Kuaishou. It is worth noting that this is Kuaishou’s second investment in education startup (previously Kuaishou had invested 50 million yuan in Intelligent Learning).

The two companies had been in talks since the end of 2019, and the investment was made as Series D+ round after the Chinese New Year. Huohua Siwei is currently in the middle of a new financing round, aiming to raise between USD 100 million and USD 150 million.

The startup has secured USD 85 million in a financing round in August 2019, led by GV Capital and KKR.

Founded in 2017, Huohua Siwei is a online platform that trains children aged three to 12 in critical thinking.The company is intended to offer personalized math education resources for children. The company’s platform offers interactive classrooms and games to improve student’s spatial, logical and computational thinking.

It has garnered over 60,000 students and about 1,800 teachers as of August 2019.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/24/kuaishou-invests-usd30m-in-online-education-startup-huohua-siwei/.

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