Makeblock, a Shenzen, China-based STEAM education solution provider, closed RMB 300M (approx. US$44m) in Series C funding at the latest valuation of RMB 2.5 billion (approx. US$367m).
The round was led by CICC ALPHA, with participation from Yuexiu Industrial Investment Fund, GX Capital and Everest Capital (LMFVC).
The company will use funds to accelerate R&D, marketing and global operations.
Led by Jasen Wang, Founder and CEO, Makeblock provides STEAM education solutions (STEAM is an educational approach to learning that uses Science, Technology, Engineering, the Arts and Mathematics) having worked with over 1,600 global channel partners in over 140 countries and regions. More than 20,000 schools worldwide use its STEAM solution, including 7,000 middle schools in France and over 50% of middle schools in Hong Kong.
The company has over 500 employees and subsidiary companies in America, the Netherlands, Japan and Hong Kong.