Tangdou, a China-based platform teaching people to dance, has secured $5m from IDG Capital, the VC affiliate of technology research firm International Data Group, and Frees Fund, China Money Network wrote on Friday.
Tangdou operates an online video portal and a mobile app that provide group dance exercises aimed at users aged 40 to 70, with 90% of content generated by users. The company claims to have 2.5 million daily active users primarily in smaller cities across China.
The money will be spent on marketing efforts and operational improvements as the company prepares to expand into the wider wellbeing and consumer health industries.
Legend Capital, an investment vehicle of conglomerate Legend, backed a $15m round two months ago that also featured Shunwei Capital, Engage Capital and Redpoint Ventures.
Zhang Yuan, founder of Tangdou, said about the company’s target users: “This population has been overlooked. We give them a platform to learn new dances, meet other dancers, post videos of their performances. These are all things they would like to share with friends and family.”