eSports Training Firm Hengyi Culture Secures USD15 Million in A-Round Funding

eSports Training Firm Hengyi Culture Secures USD15 Million in A-Round Funding

Zhang Xia

Date: Wed, 10/18/2017 - 18:48 / source:yicai
eSports Training Firm Hengyi Culture Secures USD15 Million in A-Round Funding
eSports Training Firm Hengyi Culture Secures USD15 Million in A-Round Funding

(Yicai Global) Oct. 18 -- Nanjing Hengyi Culture Communication Co. has pulled in CNY100 million (USD15.15 million) through A-round financing to expand along the eSports industrial chain, PEDaily.cn reported on Oct. 17.

Shanghai Fenrong Investment Management Co. led the round. The funds raised will be used to teach people how to play video games from pre-school through post-university employment. Hengyi Culture will work with a number of colleges and universities to run training courses, diversify and cultivate application-oriented and innovative gamers.

Founded in 2016, Hengyi Culture is a council member of Jiangsu Province Electronic Sports Association. Members of its team have been investing in eSports education since 2015 in a bid to develop university resources, such as teaching materials and coaches. In the first half of this year, the company received millions of dollars in angel funding to put its market value at CNY60 million (USD9.09 million).

Demand for video game training is growing increasingly as eSports become ever more competitive, said founder Tian Yunpeng. ‘Education’ became a part of the eSports industry after China’s Ministry of Education brought about the profession of Electronic Sports and management. Setting up new professional disciplines opens up a new way for the younger generation to remain engaged in video games.

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Keywords: Esports, Educational Training, FINANCING