World News

Sphero adds $35.4 million from investors

Published on: April 18th, 2017

Boulder toy maker was behind Star Wars’ BB-8 toy robot.

BB8Sphero is closing in on another multimillion-dollar investment round.

The company notified the US Securities and Exchange Commission on the 4th April that it was more than halfway to raising $43 million. On the 12th April, Sphero confirmed that the round was ongoing and that it has raised more than $35 million.

Claire Tindall, a Sphero spokesperson, commented: “We received more after the initial close, bringing the total closer to $35.4 million. This will primarily be used for working capital.”

The new funds are from existing investors, she said. The round has not yet closed.

Sphero previously raised about $80 million from investors that include Mercato Partners, the Foundry Group and a subsidiary of the Walt Disney Co. Adding the latest funds means Sphero has raised around $115 million since its inception around 2010.

Its latest filing came the same day Rogue One: A Star Wars Story was released on DVD. Sphero also pushed out a software update to enable its BB-8 robots to react to the movie when watching it with their owners.

The $150 BB-8 robot was named the No. 1-selling toy for youth electronics in 2015 by market researcher NPD Group, which tracks toy sales. Other Sphero robots teach children about computer programming and technology.

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