# Sphero

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sphero

- Industry: Consumer Products
- Headquarters: Boulder, US
- Website: www.sphero.com
- Total disclosed funding: $67M
- Latest round: Series G (Mar 22, 2017)
- Investors on record: 8

## About

Sphero, Inc. is an innovative educational technology company specializing in coding robots and kits designed for students from preschool to high school, enhancing interactive learning experiences through STEM education.Founded in 2010 by Nateo Potato, Sphero, Inc. is based in Boulder, US. The company focuses on developing educational technology products and has successfully completed 12 deals, with the most recent funding round occurring in August 2019. Sphero raised USD 11.98 mn during this round, which constitutes the total amount raised to date. The company has not undergone any notable pivots in business strategy or organizational structure since its inception.Sphero Inc. specializes in educational technology through its innovative range of coding robots and kits targeting various age groups, primarily from preschool to high school. The company's core product offerings include the BOLT+, RVR, and Sphero Mini robots, along with engineering kits like littleBits and hands-on building activities that promote STEM education. These products facilitate interactive learning experiences that captivate students and encourage the development of critical thinking, creativity, and problem-solving skills. Sphero's educational tools are utilized in classrooms across North America, Europe, and Australia, primarily serving schools, educational institutions, and educators looking to enhance their curriculum with practical applications of coding and robotics. The end users are students ranging from ages 4 to 18, benefiting from hands-on robotics experiences that align with subject areas such as coding, math, and engineering.Sphero generates revenue through direct sales of its robotics products and educational kits, primarily targeting educational institutions and individual consumers. The company engages in B2B transactions with schools, offering bulk purchasing options for educators while also catering to direct-to-consumer sales for parents and individual learners. Additionally, Sphero provides subscriptions and professional development resources for educators to enhance the learning experience within classrooms. The pricing structure varies based on the product line, with flagship products like the BOLT+ and RVR being integral to the company's offerings. Their approach to revenue integrates retail partnerships and direct sales, ensuring a diverse market reach that supports both educational initiatives and individual learning endeavors.Looking ahead, Sphero plans to leverage the USD 11.98 mn raised in August 2019 to expand its product line and enter new geographic markets. The company is currently designing several new educational technology products aimed at enhancing coding and robotics learning, with launches expected in the next 12 to 18 months. Additionally, Sphero targets expansion into the Asian and South American markets by 2022, focusing on increasing accessibility to its innovative educational products. Through these initiatives, Sphero aims to solidify its presence in the global educational technology landscape.

## Funding rounds

- Series G, Mar 22, 2017, $24M — Foundry Group, Mercato, Calibrate Ventures
- Series F, May 11, 2015, $11M — Foundry Group, Mercato, The Walt Disney Company, Calibrate Ventures
- Series E, Jun 27, 2014, $1M — Foundry Group, Techstars, Calibrate Ventures
- Series E, Apr 30, 2014, $16M — Foundry Group, Shea Ventures, Grishin Robotics
- Series D, Apr 26, 2013, $4M — Highway 12 Ventures, Foundry Group
- Series C, May 23, 2012, $5M — Highway 12 Ventures, Foundry Group
- Series B, Apr 1, 2011, $4.9M — Highway 12 Ventures, Foundry Group
- Series A, Oct 4, 2010, $1M — Foundry Group
- Series A, Sep 3, 2010, $1.1M — Techstars

## Investors

- Techstars (https://capitalatlas.ai/funds/techstars) — Series A, Series E
- Foundry Group (https://capitalatlas.ai/funds/foundry-group) — Series A, Series B, Series C, Series D, Series E, Series F, Series G
- Highway 12 Ventures (https://capitalatlas.ai/funds/highway-12-ventures) — Series B, Series C, Series D
- Shea Ventures (https://capitalatlas.ai/funds/shea-ventures) — Series E
- Grishin Robotics (https://capitalatlas.ai/funds/grishin-robotics) — Series E
- Calibrate Ventures (https://capitalatlas.ai/funds/calibrate-ventures) — Series E, Series F, Series G
- Mercato (https://capitalatlas.ai/funds/mercato) — Series F, Series G
- The Walt Disney Company — Series F