Tencent leads USD40m investment in Meishubao

Online art education brand Meishubao recently announced the completion of its Series C+ financing round, raising 40 million US dollars.

Online art education brand Meishubao recently announced the completion of its Series C+ financing round, raising 40 million US dollars.

The company’s Series C round raised a total of 80 million US dollars. The round was led by Tencent, with participation from Shunwei Capital and BlueRun Ventures.

“The educational product system of Meishubao has covered the complete ecological chain of the art education industry targeting children aged 3 to 18,” said Gan Ling, founder and CEO of Meishubao. “Proceeds from the latest round will be mainly used for product upgrades, curriculum development and internal team building.”

Meishubao has so far raised a total of more than 800 million yuan in six financing rounds, a record high in the sector of art education. BlueRun Ventures had invested in the company’s Series A, B and C rounds.

Founded in 2014, Meishubao is a developer of a vertical education and social application for art students. The company through its application provides online reviews of artworks, videos of demonstration teaching, and one on one art classes to children.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/07/15/tencent-leads-usd40m-investment-in-meishubao/.

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