# Beijing Smart Walnut Education Technology Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/beijing-smart-walnut-education-technology-co

- Industry: Education/Training
- Headquarters: Beijing, China
- Website: www.hetao101.com
- Total disclosed funding: $268M
- Latest round: Series C (Mar 25, 2021)
- Investors on record: 9

## About

Beijing Smart Walnut Education Technology Co., Ltd. is a Chinese company focused on enhancing scientific education through innovative technology, primarily targeting youth programming education and interactive learning experiences.Founded in 2017, Beijing Smart Walnut Education Technology Co., Ltd. specializes in youth programming education through its brand Hetaocoding (????). The company is headquartered in Beijing, China. Under the leadership of CEO Pengxuan Zeng, the firm raised USD 200.00 mn in Series C funding on March 25, 2021, co-led by Hillhouse Capital Group, with participation from KKR, Vision Plus Capital, GL Ventures, Huaxing Growth Capital, and Source Code Capital. This funding round marked a significant milestone as it represented the total amount the company has raised to date.Hetaocoding, known as ????, specializes in advancing scientific education through technology. The company offers an artificial intelligence programming curriculum tailored for youth, emphasizing interactive learning and practical coding applications. Hetaocoding engages students, educational institutions, and parents, and actively participates in national competitions to foster innovation in electronic information technology among primary and secondary school students. The company primarily operates in urban areas of China, with potential prospects for international market expansion.Hetaocoding generates revenue through subscription-based services and partnerships with educational institutions. Clients enroll students in their AI programming courses, typically structured as annual or semester-based subscriptions. Revenue is mainly derived from direct-to-consumer transactions, with parents paying for course registrations and access to learning materials. Collaborative agreements with educational organizations further enhance Hetaocoding's market reach and strengthen its position in innovative STEM education.Following its recent Series C funding of USD 200.00 mn, Beijing Smart Walnut Education Technology Co., Ltd. plans to enhance its coding tutor management systems, teaching systems, and AI products. The company aims to expand its market presence by targeting additional urban locations within China and exploring international markets, utilizing the infusion of capital to support these strategic initiatives. CEO Pengxuan Zeng will continue to guide the company's vision and operations during this growth phase.

## Funding rounds

- Series C, Mar 25, 2021, $200M — KKR, China Renaissance, Hillhouse Investment, Source Code Capital, Vision Plus Capital, GL Ventures
- Series B, Oct 23, 2019, $50M — China Renaissance, Source Code Capital, We Capital, XVC, Zhongyuan Capital
- Series B, Jan 27, 2019, $18M — Hillhouse Investment, Source Code Capital, XVC
- Series A, Jul 9, 2018 — Source Code Capital, XVC

## Investors

- Source Code Capital (https://capitalatlas.ai/funds/source-code-capital) — Series A, Series B, Series C
- XVC — Series A, Series B
- Hillhouse Investment (https://capitalatlas.ai/funds/hillhouse-investment) — Series B, Series C
- China Renaissance (https://capitalatlas.ai/funds/china-renaissance) — Series B, Series C
- We Capital (https://capitalatlas.ai/funds/we-capital) — Series B
- Zhongyuan Capital — Series B
- KKR (https://capitalatlas.ai/funds/kkr) — Series C
- Vision Plus Capital (https://capitalatlas.ai/funds/vision-plus-capital) — Series C
- GL Ventures (https://capitalatlas.ai/funds/gl-ventures) — Series C