LittleBits, a New York City-based open hardware startup, raised $11.1m in funding.
The round was led by True Ventures and Foundry Group with participation from Two Sigma Ventures, Vegas Tech Fund, Khosla Ventures, Mena Ventures, Neoteny Labs, O’Reilly AlphaTech, Lerer Ventures, Joanne Wilson, Nicholas Negroponte, Jun Makihara, Jay Dvivedi, Mohamed Nanabhay, Taha Mikati, Salah Chamma, Josh Spear, and Jason Port.
Founded in 2011 by Ayah Bdeir, CEO, littleBits provides a library of electronic Bits™ modules that snap together with magnets to allow users (designers, artists, schools and after-school programs) to build simple circuits and inventive projects for play, prototyping and learning.
In September 2013, the company launched its new Exploration Kit series. Each Kit contains an assortment of Bits modules and a detailed project booklet with step-by-step instructions. In early November, littleBits announced the Synth Kit, created in partnership with KORG, a global manufacturer of electronic musical instruments. In the coming months, it is releasing two products in partnership with science and technology leaders.
littleBits had previously raised $3.65m in Series A funding (read here) and $850k in seed funding (read here).
The company is hiring to add staffers to its 29 people team.
FinSMEs
20/11/2013