Makeblock Announces RMB 300 Million Series C Funding

Stocks and Financial Services Press Releases Thursday August 30, 2018 11:03
SHENZHEN, China--30 Aug--PRNewswire/InfoQuest
  • The Company will use funds to accelerate R&D, marketing and global operations

The leading STEAM education solution provider Makeblock today announces that it has closed RMB 300 Million (approx. US$44 million) in Series C funding at the latest valuation of RMB 2.5 billion (approx. US$367 million). This funding is led by CICC ALPHA. Also participating are Yuexiu Industrial Investment Fund, GX Capital and Everest Capital (LMFVC). For-Capital is the FA.

Makeblock will use the financing to accelerate R&D, marketing and subsidiary company operations. It's going to launch new products in this October. "We will introduce more products of lower threshold to families and schools," said Jasen Wang, Founder and CEO of Makeblock. "Over the last year we've experienced rapid growth of market share in Europe, Asia Pacific, the Americas and China, thanks to our 3-pronged strategy: software-hardware solution, systematic education solution and global robotics competition. Now we are seeing a lot of momentum to expand our product portfolio and integrate the latest technology into our STEAM solutions. We are dedicated to offering better products and services to local users."

Makeblock's STEAM solutions have won 9 international titles such as American 2018 Family Choice Awards, American Gold Edison Awards, American IDEA Gold Award, CES Innovation Awards, German IF Design Award, German Red Dot Product Design Award, Finland Kokoa Education Standard Certification, Korean K-Design Gold Award and Japanese Good Design Award.

To date, Makeblock has become a multi-national company with 500 employees and subsidiary companies in America, the Netherlands, Japan and Hong Kong. It has worked with over 1,600 global channel partners; forged business in over 140 countries and regions and engagements with Microsoft and strategic partners such as Japan's SoftBank C&S. More than 20,000 schools worldwide benefit from Makeblock's STEAM solution, including 7,000 middle schools in France and over 50% of middle schools in Hong Kong. In Mexico, Makeblock has set a Guinness Record of world's largest robotics class with the Education Department of Mexico Jalisco. In Antarctica, Makeblock has joined the Antarctica Education & Research Program (AERP) as the only selected robotic brand. In Africa, Makeblock was the official supplier to RobotsMali National Collaborative Robotics Education Center and collaborated with NOSI (the Operational Nucleus of the Information Society) to bridge STEAM education gap in Cape Verde.

www.makeblock.com
Photo - https://photos.prnasia.com/prnh/20180830/2224571-1
Caption: Makeblock's STEAM Education Solutions

Latest Press Release

Huawei Announces Q1 2019 Business Results

Huawei today announced its business results for the first quarter of 2019. In Q1 of this year, Huawei generated CNY179.7 billion in revenue, an increase of 39% year-on-year. The company's net profit margin in Q1 2019 was about 8%, slightly higher than...

ShaktiCoin Opens Mining Registration Globally

The Swiss Shakti Foundation has opened mining registration across the world coinciding with the publication of the first of its four-part white paper. The Swiss Foundation would like to bring the following three points to public attention. ONE: Early...

KTC invites members to shop for eye protection sunglasses in a variety of styles with 13% cash back at Sunglass Hut.

"KTC" or Krungthai Card Public Company Limited, supports members to care about their visions by avoiding direct contact with sunlight that continues to intensify day by day. KTC provides members a privilege to redeem for 13% cash back without...

Photo Release: KBank joins forces with Electronics Extreme for online gaming top-up via K-Payment Gateway

Mr. Akaranant Thitasirivit (third from right), KBank First Senior Vice President, and Mr. Thanin Piromward (third from left), Chief Executive Officer of Electronics Extreme Co., Ltd., Thailand's leading provider of online games including Ragnarok Online,...

Photo Release: EXIM Thailand Joins Berne Union Spring Meeting 2019

Mr. Pisit Serewiwattana (third right), President of Export-Import Bank of Thailand (EXIM Thailand) and EXIM Thailand's executives recently presented export direct lending and outlook for CLMV market as well as discussing various issues with more than 80...

Related Topics