The Robot Report

  • Home
  • News
  • Technologies
    • Batteries / Power Supplies
    • Cameras / Imaging / Vision
    • Controllers
    • End Effectors
    • Microprocessors / SoCs
    • Motion Control
    • Sensors
    • Soft Robotics
    • Software / Simulation
  • Development
    • Artificial Intelligence
    • Human Robot Interaction / Haptics
    • Mobility / Navigation
    • Research
  • Robots
    • AGVs
    • AMRs
    • Consumer
    • Collaborative Robots
    • Drones
    • Exoskeletons
    • Industrial
    • Self-Driving Vehicles
    • Unmanned Maritime Systems
  • Markets
    • Agriculture
    • Healthcare
    • Logistics
    • Manufacturing
    • Mining
    • Security
  • Financial
    • Investments
    • Mergers & Acquisitions
    • Earnings
  • Resources
    • Careers
    • COVID-19
    • Digital Issues
    • Publications
      • Collaborative Robotics Trends
      • Robotics Business Review
    • RBR50 Winners 2022
    • Search Robotics Database
    • Videos
    • Webinars / Digital Events
  • Events
    • RoboBusiness
    • Robotics Summit & Expo
    • Healthcare Robotics Engineering Forum
    • DeviceTalks
    • R&D 100
    • Robotics Weeks
  • Podcast
    • Episodes
    • Leave a voicemail

Makeblock raises $44M Series C funding

By Mike Santora | August 31, 2018


Robotics kit maker Makeblock has closed $44 million (approx. RMB 300 million) in Series C funding. The latest valuation for the Shenzhen-based company is approximately $367 million. 

Makeblock raises a $30 million Series B in March of 2017 and has raised nearly $80 million total over seven funding rounds, according to Crunchbase. The latest funding round was led by CICC ALPHA along with Yuexiu Industrial Investment Fund, GX Capital and Everest Capital (LMFVC).

Makeblock will use the financing for R&D, marketing, and subsidiary company operations. It plans to launch new products this October. “We will introduce more products of a lower threshold to families and schools,” said Jasen Wang, Founder and CEO of Makeblock.

Makeblock series c funding“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 competitions. Now we see 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.”

Increasingly, China has been prioritizing science and tech research at home. The country views these fields as crucial drivers of the future economy. That’s good news for companies like Shenzhen-based Makeblock. But domestic financial support is still only a part of the company’s overall strategy. 70% of Makeblock’s sales in 2017 came from overseas with the US as its biggest market.

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 work with Makeblock, including 7,000 middle schools in France and over half of the 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.

About The Author

Mike Santora

Mike Santora is an Associate Editor for The Robot Report and Design World. He holds a B.A. in Journalism from Bowling Green State University and an MFA in Creative Writing from the University of New Hampshire. He can be reached at [email protected] or on Twitter at @DW_MikeSantora"

Tell Us What You Think! Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles Read More >

impossible mining auv
Impossible Mining raises $10.1M for underwater mining robot
osaro robot picks items for customer order
OSARO automates Zenni fulfillment center
wingcopter 198 flying over ocean and islands
Wingcopter brings in $42M for delivery drones
Indoor Robotics raises $15M for Tando indoor drone

2021 Robotics Handbook

The Robot Report Listing Database

Latest Robotics News

Robot Report Podcast

Anders Beck introduces the UR20; California bans autonomous tractors
See More >

Sponsored Content

  • Magnetic encoders support the stabilization control of a self-balancing two-wheeled robotic vehicle
  • How to best choose your AGV’s Wheel Drive provider
  • Meet Trey, the autonomous trailer (un)loading forklift
  • Kinova Robotics launches Link 6, the first Canadian industrial collaborative robot
  • Torque sensors help make human/robot collaborations safer for workers

RBR50 Innovation Awards

Leave us a voicemail

The Robot Report
  • Mobile Robot Guide
  • Collaborative Robotics Trends
  • Field Robotics Forum
  • Healthcare Robotics Engineering Forum
  • RoboBusiness Event
  • Robotics Business Review
  • Robotics Summit & Expo
  • About The Robot Report
  • Subscribe
  • Advertising
  • Contact Us

Copyright © 2022 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search The Robot Report

  • Home
  • News
  • Technologies
    • Batteries / Power Supplies
    • Cameras / Imaging / Vision
    • Controllers
    • End Effectors
    • Microprocessors / SoCs
    • Motion Control
    • Sensors
    • Soft Robotics
    • Software / Simulation
  • Development
    • Artificial Intelligence
    • Human Robot Interaction / Haptics
    • Mobility / Navigation
    • Research
  • Robots
    • AGVs
    • AMRs
    • Consumer
    • Collaborative Robots
    • Drones
    • Exoskeletons
    • Industrial
    • Self-Driving Vehicles
    • Unmanned Maritime Systems
  • Markets
    • Agriculture
    • Healthcare
    • Logistics
    • Manufacturing
    • Mining
    • Security
  • Financial
    • Investments
    • Mergers & Acquisitions
    • Earnings
  • Resources
    • Careers
    • COVID-19
    • Digital Issues
    • Publications
      • Collaborative Robotics Trends
      • Robotics Business Review
    • RBR50 Winners 2022
    • Search Robotics Database
    • Videos
    • Webinars / Digital Events
  • Events
    • RoboBusiness
    • Robotics Summit & Expo
    • Healthcare Robotics Engineering Forum
    • DeviceTalks
    • R&D 100
    • Robotics Weeks
  • Podcast
    • Episodes
    • Leave a voicemail