Children basketball league organizer raises 20m yuan in Series A financing

Walmonos Sports, a subsidiary of China’s youth educational brand Walmonos, has announced the completion of a 20-million-yuan Series A financing, which was co-invested by Vtron Investment, Seewo, Starz Sports and Lexue Investments.

According to the sports company, the new investment will be used in the establishing of a high-level talent team, research and development of sports courses and equipment and expansion of its physical stores.

As shown in a media report, Walmonos Sports has reached partnerships with more than 4,000 Chinese kindergartens. With 15 chain clubs across China, the company has fostered over 4,000 coaches for children in the world’s most populous country.

At the same time, Walmonos Sports has also launched a nation-wide children’s basketball league in Guangzhou of Guangdong province. In the 2018 season, the tournaments are expected to engage more than 40,000 children in 120 divisions of 23 Chinese provinces. 

Source: Huanqiu

Proofread by William Logsdon