WONDER WORKSHOP, the company behind a set of programmable robotic toys that introduce children to basic coding, has raised $41 million in a Series C round from a slew of brand-name Asian investors including Tencent Holdings, SoftBank Korea and MindWorks Ventures, reports DealStreetAsia. Other backers include Madrona Venture Group, TAL Education Group and VTRON Group, along with existing investors TCL Capital, Sinovation Ventures, Bright Success, WI Harper and CRV.
The company’s wooing of Asian investors should come as no surprise. Back when Wonder Workshop raised its Series B round last summer, co-founder and CEO Vikas Gupta told EdSurge that the Chinese market presented a “strong opportunity,” with users in classrooms, homes and after-school learning centers.
The U.S. edtech industry has seen a recent deluge of capital from investors across the Pacific. Last year, at least 10 U.S. education startups raised money from such sources. (Here’s our look at the Asian money fueling U.S. edtech deals.)
Founded in 2012, Wonder Workshop has now raised more than $78 million in venture capital, according to Crunchbase. This September, it added two new robots, Cue and Dot Creativity Kit, to its product lineup.
