YY Inc.’s live streaming platform Huya secures USD 75 M for Series A

Huya

Founded in: 2014

Financing status: RMB 517 million (USD 75 million) Series A financing in 2017

YY Inc.’s live streaming platform Huya on Tuesday secured USD 75 million for its Series A round to develop more presenters hosting live streams of their mobile games in hope of attracting new users.

Huya is YY Inc.’s live streaming platform, and it provides users with high definition, smooth and rich interactive live streaming services based on its advanced video technology. Users can apply to be a presenter on Huya and host their own live streaming shows. Other users can then choose to watch live streaming shows based on their interests as well as send virtual gifts to presenters.

There are four categories with more than 300 subsidiary channels on the platform. Categories include online games, single-player games, mobile games, and arts and entertainment. In addition, the platform has currently more than 32.5 million active users, with over 2 million paid subscriptions.

This Series A financing round was led by Ping An of China, with participation from a group of investors including Banyan Capital, Engage Capital, Morningside Group, and so on. The capital will be used to develop more mobile game presenters in hope of attracting new customers.

Elite social network Edate receives USD 2.9 M for pre-Series A

Photo from 58pic.com
Photo from 58pic.com

Edate

Founder: Cheng Yong

Financing status: RMB 20 million (USD 2.9 million) pre-Series A financing in 2017

Elite social network Edate on Tuesday landed USD 2.9 million for its pre-Series A round to expand its team for future marketing plans.

Edate is a social network that especially provides networking services for elites such as senior managers and entrepreneurs between ages 25 and 35. It mainly provides four types of social networking services such as entrepreneur receptions, leisure culture parties, learning and promotion with training institutions, and matchmaking parties.

Founded in Guangzhou, it has so far more than 600,000 registered members. For people who would like to join the network, its new member registration requires a member’s recommendation to ensure effectiveness of its social network. Meanwhile, it will launch its paid membership system as well as entrance fees for its events.

Edate’s previous angel financing round was from VenturesLab, and this pre-Series A round was led by an undisclosed group of investors. The capital will be used to attract more high quality members as well as maintaining the effectiveness of its social network, and recruit new talents to expand its team for the improvement of future marketing plans.

Kids coding education platform Codemao receives USD 2.2 million in financing

Photo from 58pic.com
Photo from 58pic.com

Codemao

Founder: Li Tianchi

Founded in: 2016

Financing status: RMB 15 million (USD 2.2 million) in financing in 2017

Kids coding education platform Codemao on Tuesday received USD 2.2 million in financing to attract new talents and start marketing campaigns.

Codemao is a kids coding education platform that provides online coding courses, winter and summer camps on science and technology topics, international coding events, and graphical coding programming classes for kids between ages six and 16.

A Shenzhen company founded in 2017, its online platform has more than 150 classes (1-hour classes) available, covering 11 topics including games, robots, data, and so on. The platform has more than 300,000 users with one-third of them being active users. In addition, over 650,000 coding works have been released on its platform done by its teenage users.

This financing round was from Zhixingedu, and Codemao plans to use this fund to recruit more talents to expand its team for marketing campaigns as well as create new coding courses for teenagers.

(Top photo from 58pic.com)

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Kaikai Shi
Kaikai Shi majored in Biotechnology at Zhejiang University. He now runs the Tech Financing column for AllChinaTech. His interests are in new technology and reading. Kai believes that new technology will change the world we live in, and is trying to engage himself in this process.

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