STEAM Education Solutions Provider Makeblock Wins RMB 300 Mln Series C
36Kr.com, 8/30/18
Shenzhen-based Maker Works Technology, developer of STEAM (Science, Technology, Engineering, Arts, and Math) education solutions provider Makeblock, has announced the completion of RMB 300 mln in Series C funding led by CICC Alpha Investment Fund Management, with participation by Yuexiu Industry Investment Management, GX Capital and Lang Ma Feng VC. Following this round of financing, the company has a post-money valuation of RMB 2.5 bln.
Makeblock's platform provides a full range of STEAM-based hardware and software education and entertainment products for schools, training institutions, and families. Clients can access its high-quality educational content through the company's online educational software or its mobile app. With robotics as a core focus, the company's platform also supports global youth robotics competitions. Makeblock states that with its integrated educational solutions and innovative model, it promotes a combination of technology and education.
Makeblock's continually updated systematic courseware is composed of a combination of online graphic-based programming software, teacher-training content, and information on its MakeX International Youth Robot Competitions. The result is what the company calls a closed-loop model of using "software and hardware products as a means to output high-quality content and then use robotics as an evaluation tool."
In 2017, the company achieved revenues of more than RMB 200 mln and its products reached over 20,000 schools in 140 countries across 5 continents. Makeblock has more than 1,000 channel partners and over 5.6 mln users.
Keywords: mobile education wireless hardware Internet funding software valuation VC Series C GX Capital Maker Works Lang Ma Feng Yuexiu Makeblock CICC Alpha Investment online education
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