US-based educational robotics developer Wonder Workshop has secured $41m in series C funding from investors including corporates Tencent, TAL Education, VTron and SoftBank Korea, Asian Venture Capital Journal reported today.
Internet group Tencent, education services providers TAL Education and VTron, and SoftBank Korea, a subsidiary of telecoms group SoftBank, were joined by MindWorks Ventures, Madrona Venture Group, TCL Capital, Sinovation Ventures, Bright Success, WI Harper and CRV.
Founded in 2012 as Play-I, Wonder Workshop produces programmable robots called Dash, Dot and Cue, which can be used to teach children aged six and older the basics of computer science and coding. It sells the robots directly to schools in the US and international markets.
The company had previously raised a total of approximately $37m in equity and crowdfunding, including $20m in a series B round co-led by WI Harper and Idea Bulb Ventures in July 2016, with participation from Learn Capital, CRV, Madrona and TCL.
Diversified conglomerate Alphabet participated in the company’s $1m seed round in 2013 through its early-stage corporate venturing arm GV, alongside Madrona and a range of angel investors.