Sphero, the Boulder, Colorado-based robotics educational STEAM (science, technology, engineering, arts, and math) firm has announced that it is acquiring New York-based toy company LittleBits which helps kids learn to code through toys for an undisclosed sum.
Sphero was founded in 2010 by Adam Wilson and Ian Bernstein. The company has secured $120.3 million as funding from backers which include Marcato Partners, The Walt Disney Company, Alexa Fund, Foundry Group, Grishin Robotics, Highway 12 Ventures, Shea Ventures along with others.
littleBits Electronics, on the other hand, was founded by Ayah Bdeir in 2011. It has secured close to $63 million in the form of funding from the likes of Foundry Group, True Ventures, Morgan Stanely, Wamda Capital, Khosla Ventures, Two Sigma Ventures, DFJ Growth, Morgan Stanley Alternative Investment Partners, VTF Capital, Grishin Robotics and others.
Paul Berberian, the CEO of Sphero talking about acquisition through a blogpost said, “Together, we’re able to make an even greater impact by delivering the best possible solution – whether it is programming a robot to solve a maze or building an electronic music synthesizer. There are infinite learning possibilities – and they’re all fun.” He also added that both the firms are on a mission to make hands-on learning fun and memorable.
Ayah Bdeir, the LittleBits founder talking about the deal said that “When I studied engineering, it was top-down, test-based. I hated it and wanted to quit every semester. “Then I got exposed to the pedagogy of learning through play and my life changed. No one could peel me away from learning, inventing, creating. Together, LittleBits and Sphero are now bringing this experience to kids everywhere.
Image Courtesy : Sphero