Makeblock Raises $30M in Series B Funding

makeblockMakeblock, a Shenzhen, China-based DIY robotics construction and programming learning platform, raised $30M in Series B funding.

The round, which brought total funding to over $36M at a $200M valuation, was led by Evolution Media China and Shenzhen Capital Group.

The company intends to use the funds for
– international expansion, with new offices in Beijing, Hong Kong, North America, Japan, and the Netherlands,
– retail growth by deepening its partnership with Barnes & Noble and SoftBank to put its products in more stores across the globe, and
– further product innovation and development, with diversification of STEM education hardware, software and curriculum resources for educators, children and hobbyists.

Founded in 2011 and led by CEO Jasen Wang, Makeblock provides makers, hobbyists, STEM learners, and educators with a platform offering over 500 mechanical parts and electronic modules, graphical programming software, and courses. It is used by over 600,000 makers, students and educators in over 140 countries, 1,600 channel partners, and 20,000 schools and educational organizations, which implement the company’s products into their educational curriculum.
Among the flaghip products, Airblock, a modular STEM drone that raised $830k in December 2016 on Kickstarter, will be available for purchase in retail stores starting May 2017. In addition, On March 8, Makeblock also announced its new product Neuron – a programmable electronic blocks platform for open-ended gadget building – via Kickstarter.

FinSMEs

16/03/2017

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