SoftBank mull investment in Chinese robotics startup Makeblock

HONG KONG – SoftBank Group Corp. is in talks to invest in Makeblock Co., a Chinese maker of DIY robotics, people familiar with the matter said. Makeblock is seeking to raise about $60 million in a series C round by the end of this year as it targets a doubling of its valuation to $400 million, the people said, asking not to be identified talking about private plans. The figures are preliminary and could vary depending on negotiations, the people said. SoftBank and Makeblock declined to comment. Makeblock is competing with a coterie of Chinese startups, as well as Pearson PLC, Lego Group and Sony Corp., who all want a slice of a learning industry that focuses on science, technology, engineering and math.