Orbotix gets $15.5M investment from Shea Ventures, Grishin Robotics and Foundry Group

By: InnovatioNews Monday May 5, 2014 0 comments Tags: Boulder, Dmitry Grishin, Foundry Group, Grishin Robotics, Ollie, Orbotix, Paul Berberian, Richard Gottlieb, Shea Ventures, Sphero

BOULDER - Orbotix, the connected play company and manufacturer of mobile device-controlled robots Sphero and Ollie, today announced it has raised $15.5 million from Shea Ventures, Grishin Robotics and Foundry Group.

Orbotix said it will use the funding to continue the build-out of hardware roadmaps, optimize the game mechanics needed for connected toys and add accessory ecosystems to extend the play experience for more than 30 SKUs and 35 games to be offered by the end of 2014.

"Kids today see no difference between what is virtual and what is physical," said Richard Gottlieb, principal and founder of Global Toy Experts and publisher of Global Toy News.

"If you want to know what the future of play looks like, it's with toys that seamlessly embrace both. For that reason, I see companies like Orbotix as exemplifying that future."

"Connected play lives at the intersection between a physical toy, an immersive game experience and a greater, more meaningful social context," said Paul Berberian, Orbotix CEO.

"Both Sphero and Ollie are a unique blend of robotics and entertainment, and it's clear this company has a strong potential to disrupt and redefine an entire product category," said Dmitry Grishin, co-founder of Grishin Robotics.

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