Makeblock, founded in 2013 in Shenzhen, develops STEAM education hardware and software and operates the xTool brand. The company ran a Kickstarter campaign for the xTool M1, a hybrid laser-and-blade cutting machine, which was fully funded in 15 minutes and raised $1M within the first five days. The xTool M1 is offered in 5W and 10W laser models with Kickstarter starter prices ($699 and $799) and a rotary attachment add-on; MSRPs were provided in the campaign. Makeblock said it is on track to obtain FDA, FCC and CE‑LVD/EMC certifications before March 2022 to enable deliveries to the US, EU and most areas. The campaign had 34 days remaining at the time of the report and estimated delivery was March 2022. The company is building an xTool community with project cases, step‑by‑step instructions, digital design files and millions of downloadable designs, and it notes more than 100 distributor partners worldwide. Makeblock is a Shenzhen, China-based provider of STEAM education solutions led by founder and CEO Jasen Wang. The company develops STEAM education products and has worked with over 1,600 global channel partners across more than 140 countries and regions. Its solutions are used in over 20,000 schools worldwide, including 7,000 middle schools in France and more than 50% of middle schools in Hong Kong. Makeblock has over 500 employees and operates subsidiaries in America, the Netherlands, Japan and Hong Kong. It closed RMB 300M (approx. US$44m) in Series C funding at a valuation of RMB 2.5 billion (approx. US$367m). The round was led by CICC ALPHA with participation from Yuexiu Industrial Investment Fund, GX Capital and Everest Capital (LMFVC). The company will use the funds to accelerate R&D, marketing and global operations. Makeblock is a Shenzhen-based startup that builds programmable robots and robot-building kits for kids and teens. Its best-known products include the mBot series programmable rovers and the Airblock modular toy drone, and it also sells a wide variety of tech toys such as a Music Robot Kit with a xylophone and motorized hammer. The company uses a graphical programming environment that lets beginners issue commands by placing game pieces on a screen rather than writing code. Makeblock says it has customers in 140 countries and products used by educators in 20,000 schools worldwide. Founded in 2011 and led by CEO Jasen Wang, the company plans to use funding for hiring, new product development, manufacturing and international expansion, including opening a U.S. office. The article situates Makeblock in a growing robotics-education market alongside competitors like LittleBits, SparkFun, ArcBotics, Flybrix, Wonder Workshop and Ozobot.

Total raised

$74M

Funding rounds

3

Latest round

Series C

Latest activity

Aug 2018