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.
| Startup | Headquarter | Investment Size (USD) | Investment Stage | Lead Investor(s) | Other Investor(s) | Verticals |
|---|---|---|---|---|---|---|
| Bloks Group | Shanghai | 50 million | A | Source Code Capital, Legend Capital | Gaorong Capital | EdTech |
| Nourse | Shanghai | 30 million | B | The Cathay Funds | Vertex Ventures China, Hony Capital, Meridian Capital China | Pet Technology |
| Deep Informatics | Hangzhou | 15 million | B1 | Shenzhen Capital Group | - | HealthTech |
| fmulmz.com | Guangzhou | 15 million | A | - | Panda Capital, Guangzhou Finance Holdings, Tong Sheng Capital | HealthTech |
| Yesmro | Suzhou | * 10 million | B | Qiming Venture Partners | Future Capital | E-commerce |
| Beijing Yibai Technology | Beijing | 10 million | A+ | MindWorks Capital | Eastern Bell Capital, Korea Investment Partners | Saas |
| Flower Knows | Hangzhou | * 1.5 million | Pre-A | - | Tiantu Capital | Beauty & Hygiene |
| FireGen Biomedicals | Beijing | * 1.5 million | B1 | - | Tianjin Kechuang, Qingfeng Zichuang | HealthTech |
| Synlight Crystal | Baoding | - | A | - | SDIC Venture Capital | N/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.
