China Digest: Bloks raises $93m; CareCapital leads $50m funding in Impress

Shanghai Bloks Technology Group has garnered 600 million yuan ($93 million) in a Series B round of financing, while Barcelona-based novel orthodontics maker Smile2Impress (Impress) has raked in $50 million in its Series A round led by China’s CareCapital.

Bloks bags $93m in Series B round

Education startup Shanghai Bloks Technology Group has garnered 600 million yuan ($93 million) in a Series B round jointly led by Alibaba co-founder Jack Ma’s YF Fund and existing investor Legend Capital, per an announcement.

Gaorong Capital, which is also an existing backer in the company, joined the round.

In December 2020, Gaorong Capital had teamed up with Source Code Capital, Legend Capital and others to jointly invest 330 million yuan ($50 million) in Bloks’ Series A round.

Bloks creates interactive and entertaining education tools for kids in the age group of 1-6. Its products are exported to 26 countries and regions.

Bloks’ other backers are Latitude Capital, City Golden Bridge International Media Group, Junshi Investment and Jinyi Investment.

CareCapital leads $50m funding in Spain’s Impress

Barcelona-based orthodontics maker Smile2Impress (Impress) has raked in $50 million in its Series A round led by CareCapital, a dental division of Hillhouse Group in Asia.

The round also saw the participation of Nickleby Capital, European venture capital firms UNIQA Ventures, Bynd VC and TA Ventures, according to a company statement.

The funding will be used to scale up the company’s presence in Europe.

Impress, set up in 2019, claims to provide new-generation orthodontics services through the latest technology. It runs 75 clinics in countries like Spain, France, and Portugal, among others.

Over the past 15 months, it claims to have generated nearly €50 million in annual revenue and expects to reach €150 million within the next year.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.