PCH Accelerator client littleBits™ closes funding round to power the next generation hardware innovation platform.
LittleBits, the New York-based open hardware startup and maker of a library of electronic Bits modules that snap together with magnets for prototyping, learning and fun, announced today an $11.1 million funding round.
The round was led by True Ventures and Foundry Group and includes new investors Two Sigma Ventures and Vegas Tech Fund. Also participating in the round are returning investors Khosla Ventures, Mena Ventures, Neoteny Labs, O’Reilly AlphaTech, Lerer Ventures and an all-star lineup of new and returning angel investors noted below.
Previously, the company raised $3.65 million in Series A funding and $850,000 in Seed funding, bringing its total funding to date to over $15mm.
In June 2012, littleBits announced a partnership with global company PCH International to lead its Supply Chain Management.
Developed to inspire innovation in hardware, littleBits lets users create circuits in seconds, with no soldering, programming or wiring required. Part prototyping tool, part tech gadget, littleBits has been recognized as “LEGO for the iPad generation” and heralded as the most easy to use electronic construction kit in the world.
The brand’s Bits modules revolutionize the way people interact with technology by breaking electronics down to their very basic parts (lights, sounds, sensors, motors, programmable circuits), and making engineering fun and accessible to “non experts” of all ages including children, teachers, artists, designers, makers, hobbyists and tech-enthusiasts.
“Over the past years we have seen high technology-innovation move from the hands of large corporations to the hands of amateurs in the areas of software, game development and 3D printing,” said Ayah Bdeir, founder and CEO of littleBits, MIT Media Lab alumna and TED Senior Fellow.
“But electronics remains a very top-down industry, and is still prohibitive to beginners. littleBits aims to democratize electronics to allow anyone to become an inventor and make anything from an electronic doorbell to a fully responsive robotic installation.
In the company’s initial phase, we focused on our core products and built the most extensive, easy to use, and highly modular electronics library out there, with close to 50 modules that enable motion, lights, sounds and sensing. This new round is about the second phase of our vision: to take this library and build the most versatile physical/digital invention platform in the world.”
“When we first met Ayah, we were blown away by her passion for science and inspiring creativity in the youth of our world,” said Jon Callaghan, co-founder of early-stage venture capital firm True Ventures. “littleBits is leading the way to the future of invention and play. We’re thrilled to be a part of this company in putting the power of the internet into connected, constructible things.”