Toymakers Sphero after getting a funding boost has acquired Colorado based Specdrums which makes rings which produce music through taps on colors. Specdrums has been a massive success story on crowdfunding platform Kickstarter. The financial details of the acquisition have not been revealed by both the parties.
As Sphero continues to focus on STEM education, the wearable tech of Specdrums can be a strong addition in the armory of the firm. Paul Berberian, the CEO of Sphero through a press release said that “We firmly believe that play is a powerful teacher. With the addition of Specdrums, we are strengthening the ‘A’ in STEAM in our product roadmap. “With Sphero’s infrastructure and the groundwork that the Specdrums founders have already completed, we believe there’s a huge opportunity to continue to inspire curiosity in classrooms and beyond.”
With the acquisition, Sphero plans to launch a music-oriented product by the end of this year. Notably, Sphero had laid off a few of their staffs after their Disney-branded robotics toys failed to get the success same as their star war-themed toys. However, their recent fundraising of $12 million is seen as a pivotal step for the firm.
Adam Wilson, Ian Bernstein had started Sphero in 2010 which has Foundry Group, Highway 12 Ventures and Mercato Partners as the lead investors. Sphero has secured a total funding of $119.5 million till date.
Steven Dourmashkin had started Specdrums in 2016 which through mobile app generates musical pitches and sounds from the rings. Specdrums has got the support of around 2000 backers on crowdfunding platform Kickstarter who have pledged to give around $188,944.
It will be interesting to see how things turn out for both the Colorado-based firms.
Image Courtesy : Specdrums,sphero