Tech Will Save Us gets extra £1.6m
Tech Will Save Us, the start-up getting kids excited about technology through ‘hackable’ toys, has secured an additional £1.6 million in follow-on series A funding.
The London-based start-up was established in 2012 by husband-and-wife team Bethany Koby and Daniel Hirschmann in response to dissatisfaction with traditional STEAM based-toys available on the market.
The pair started with a mission to inspire kids by combining the power of play with the possibilities of technology through toys.
Tech Will Save Us’s products are now available in over 4,000 stores globally and it has already secured several high-profile partnerships, including developing a superhero-themed electronic building kit with Marvel and a coding kit with the BBC.
→ READ MORE: Tech Will Save Us attracts £3m funding
The follow-on investment was led by edtech-focused VC Brighteye Ventures and will be used to accelerate development of the company’s DIY gadgets and to expand into new territories.
“This new capital will help us continue to develop new STEAM-based products and expand in to new markets in Europe,” said CEO Bethany Koby.
“We are thrilled to have BEV onboard as strategic advisors as we enter a new period of accelerated growth, and we look forward to working alongside Alex and his team.”
As part of the investment, Brighteye managing partner Alex Spiro will be joining the Tech Will Save us board.
Spiro said: “Brighteye is delighted to join the board of TWSU as investors and advisors, to help Bethany, Daniel and their team continue to build on their education strategy and distribution.
“TWSU’s mission to spark the creative imagination of young people using hands-on technology is perfectly aligned with how we see the future of learning, and we look forward to participating in their exciting journey.”
Tech Will Save US previously raised £3 million in series A funding earlier this year.
The round was led by Initial Capital with participation from other backers including former Dyson CEO Martin McCourt, Made.com CTO Jonathan Howell, Media Molecule co-founder Chris Lee, female entrepreneurship platform AllBright, Initial Capital, Backed VC, SaatchInvest, Unltd-inc and Leaf VC.