Southern Publishing and Media and Cheetah Mobile have contributed to a $57m series C round for edtech developer Codemao.
China-based online programming education platform Codemao yesterday secured RMB400m ($57m) in a series C round backed by media group Southern Publishing and Media and mobile app producer Cheetah Mobile.
Russia-China Investment Fund led the round, which also included Hillhouse Capital, SAIF Partners, Everbright New Economy Fund, Guangdong Technology Financial Group, Crystal Stream Capital and Green Pine Capital Partners.
Founded in 2015 and also known as Bian Cheng Mao, Codemao has built an online platform for children and teenagers aged 7 to 16 to learn programming languages such as Python.
The series C funding will go towards further development of the company’s products and services, as well as allow Codemao to prepare for a proposed initial public offering on the SSE Star Market.
Codemao has obtained a total of $142m across eight funding rounds to date, according to China Money Network. The company received $43m in a series B-plus round in May 2018 from CMB International Capital, Green Pine Capital and Xinyi Capital.
Cheetah Mobile previously participated in an $18m series B round in 2017 together with Qinghan Fund, Hillhouse Capital and Crystal Stream Capital.