Tangdou, a China-based online platform that connects elderly Chinese women who like dancing in public, has closed a series C round of undisclosed size that featured internet company Tencent, 36Kr reported yesterday.
Venture capital firm GGV Capital, VC fund Shunwei Capital and VC group IDG Capital also participated in the round. The company has now reportedly raised about $100m altogether, which would make the series C round approximately $75m in size.
Tangdou operates a mobile platform aimed at elderly Chinese women who like dancing to loud music in public locations, an activity viewed as both entertainment and exercise.
Users can learn new dance moves through other’s videos and upload their own clips showing off their moves. The app is used to organise some 4,000 activities each month on average, attracting more than 50,000 users in total.
The platform also provides news content covering areas such as fashion and food, and connects users with each other so they can socialise offline. It is currently trialling e-commerce functionality.
Tangdou raised $5m from Engage Capital in 2015 and added $15m in a 2016 series B round that included Legend Capital, the venture capital firm formed by conglomerate Legend Holdings, as well as Shunwei Capital, Engage Capital and Hongdian Capital.
Tangdou added $5m in series B-plus funding in 2017 according to TechCrunch, through it did not provide further details.
Li Zhaohui, managing partner of Tencent Investments, said: “Tangdou represents a new social way for the middle-aged and the elderly, forming a stable social class which is centred around a public space.
“We hope that Tangdou, as an industry-leading platform that serves these people, can offer more splendid cultural and entertainment content to enrich their lives.”
