Focus on Education: High Tech Toy Maker Sphero Raises $ 12 M

This year has not been very great until now, for Sphero – a USA based toy Robotics Company, which started its year with few layoffs, a result of tepid interest in its range of Disney branded consumer products.

There is some good news – the company has raised $12 million to focus on education. Until now, the overall fund raising collection for the company has reached up to around $119 million. The new round of funding will help Sphero to become an education first company.

“The recent round of funding has currently raised $12 million, and we anticipate at the time of final closing up to $20 million may be raised in total,” said a Sphero official to a technology website, on the condition of anonymity.

The current funding is being raised from existing and new investors and will be utilized for working capital as the company aims to focus on the intersection of play and learning.

After Sphero’s success in The Force Awakens BB-8 tie-in, the company have slowed down its involvement with Disney, producing high tech Spider-Man and Lightning McQueen based toys.