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.