Makeblock Co., a Chinese maker of DIY robotics parts, is seeking to raise funding at a $200 million valuation as the Sequoia Capital-backed startup expands into classrooms and hobbyist’s workshops globally, people familiar with the matter said.
The Shenzhen-based company us seeking to raise about 200 million yuan ($29 million) in a series B round, the people said, requesting not to be named discussing a private matter. The figures are preliminary and could vary depending on negotiations with potential investors. The company confirmed it’s raising funds, but declined in an e-mailed statement to elaborate or provide further details. [ Bloomberg ]
