China Deal Monitor: Education startup Bloks nets $50m and more updates

Education startup Shanghai Bloks Technology Group has garnered 330 million yuan ($50 million) in a Series A round jointly led by Source Code Capital and Legend Capital with participation of some undivulged existing investors, per a company statement on Friday.

Gaorong Capital, a Beijing-based venture capital firm focused on early- and growth-stage investments, also joined the fresh round.

“Going forward, we will enhance our pipeline products,” said Weisong Zhu, founder and CEO, Bloks.

Bloks creates interactive and entertaining education scenarios through building blocks-based tools and solutions. Its products, that primarily cater to kids aged 1 to 6, are exported to 26 countries and regions, it claims. 

Its sales in May this year clocked a 236 per cent year-on-year growth, according to a press release in June. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on December 4, 2020. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
Bloks GroupShanghai50 millionASource Code Capital, Legend Capital Gaorong CapitalEdTech
NourseShanghai30 millionBThe Cathay FundsVertex Ventures China, Hony Capital, Meridian Capital ChinaPet Technology
Deep InformaticsHangzhou15 millionB1Shenzhen Capital Group-HealthTech
fmulmz.comGuangzhou15 millionA-Panda Capital, Guangzhou Finance Holdings, Tong Sheng CapitalHealthTech
YesmroSuzhou* 10 millionBQiming Venture PartnersFuture CapitalE-commerce
Beijing Yibai TechnologyBeijing10 millionA+MindWorks CapitalEastern Bell Capital, Korea Investment PartnersSaas
Flower KnowsHangzhou* 1.5 millionPre-A-Tiantu CapitalBeauty & Hygiene
FireGen BiomedicalsBeijing* 1.5 millionB1-Tianjin Kechuang, Qingfeng ZichuangHealthTech
Synlight CrystalBaoding-A-SDIC Venture CapitalN/A

∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.5 million)” in the given example. 

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.