The company, which develops Arduino-based hardware, robotics hardware, and Scratch-based software targeting the STEAM education and entertainment markets, says that it plans to use the financing to accelerate R&D, marketing, and subsidiary company operations.
"We will introduce more products of lower threshold to families and schools," says 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 three-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," says Wang. "We are dedicated to offering better products and services to local users."
The company's STEAM solutions have won nine international titles: the 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. According to the company, more than 20,000 schools worldwide are using its STEAM solutions.
The latest funding round was led by CICC ALPHA. Other participants included Yuexiu Industrial Investment Fund, GX Capital, and Everest Capital (LMFVC).
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