Yue Xiu Enterprises has taken part in a $44m series C round for Makeblock, the Evolution Media China-backed robotic toy manufacturer.
Makeblock, a China-based developer of a programmable robot kit, closed a RMB300m ($44m) series C round yesterday backed by Yuexiu Industrial Investment Fund, the corporate venturing arm of conglomerate Yue Xiu Enterprises.
CICC Alpha, a subsidiary of investment bank China International Capital Corporation, led the round, which also included investment firm GX Capital and venture capital firm Everest Capital. The company is now valued at $367m.
Founded in 2013, Makeblock produces modular kits consisting of electronic and mechanical parts that…
