Thursday June 4, 2015 0 comments
BOULDER -- Sphero, a leader in connected play robotics, announced it secured an additional $45 million in funding, bringing its total funding to $80 million.
The investment was led by Mercato Partners, with additional investors including a subsidiary of The Walt Disney Company and other strategic investors.
Mercato Partners co-founder and managing director, Greg Warnock, has been appointed to Sphero’s board of directors as a result of the investment.
“The connected play toy market has grown dramatically over the last several years and analysts expect that growth to continue,” said Warnock. “The opportunity to partner with a technology and market leader like Sphero was a perfect fit for Mercato.
“The Sphero team are experienced technologists and the company is well-positioned to become the connected play leader of the toy industry.”
Mercato Partners will also provide sales expertise in both reseller and retail channels.
“There’s a perfect storm brewing in the toy industry and our emerging technology will forever transform the way people play,” said Paul Berberian, Sphero CEO.
“This recent infusion of capital will allow us to grow the team and accelerate the development of the next generation of robotic entertainment.”
Sphero participated in the 2014 Disney Accelerator powered by Techstars. The program gave Sphero access to mentoring from Disney executives and entrepreneurs and investors in the entertainment and technology communities, the company said.