Chinese Toy Maker Bloks Raises USD93.2 Million in New Funding Led by Yunfeng, Legend
Chen Shanshan
DATE:  May 14 2021
/ SOURCE:  Yicai
Chinese Toy Maker Bloks Raises USD93.2 Million in New Funding Led by Yunfeng, Legend Chinese Toy Maker Bloks Raises USD93.2 Million in New Funding Led by Yunfeng, Legend

(Yicai Global) May 14 -- Shanghai Bloks Technology Group, whose building blocks are used as learning tools in kindergartens across China, has secured CNY600 million (USD93.2 million) in its latest funding round led by Chinese investment firms Yunfeng Capital and Legend Capital, the Chinese toy maker said today.

Other participants in the Series B fundraising include venture capital companies Source Code Capital and Gaorong Capital, it said. The funds will be used to improve its ‘blocks +’ industrial chain and improve the company's competitive advantages, it said.

Shanghai-based Yunfeng Capital believes that the scale of China's toy market is approaching CNY100 billion (USD15.5 billion) and that Lego-like building blocks are one of the fastest growing categories, the investment firm said.

Bloks has created its own assembly system and design platform, the Shanghai-based toy maker said. Its industry-leading level of innovation enables it to develop new products. Several of its patents are widely recognized, which helps to promote the company's brand.

Editor: Kim Taylor

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Keywords:   Investment,Bloks,Yunfeng Capital,Legend Capital