Shenzhen-based computer coding tutoring platform Codemao has raised ¥1.3 billion (£148 million) in a series D funding round led by a fund affiliated to Baring Private Equity Asia, with participation from Citic Securities, Hillhouse Capital, BOC International, Gold Stone Investment and Sino-Ocean Capital, CX Tech has reported.
When Codemao started up in 2015, it initially focused on developing programming tools for children aged between four and 16. It then shifted its business into computer programming training in partnership with schools and universities. Codemao also offers online one-on-one programming courses.
The company also raised ¥250 million in a funding round in April from a group of investors led by CMB International, at which time the company was valued at ¥3.5 billion.
In January 2019, Zhang Wei, the company’s chief financial officer stated the company would go public on Shanghai’s Star Market, the Hong Kong Stock Exchange, or the Nasdaq within two years.
Date published: 24 November 2020