All Systems Are Go for Orbotix - New Financing Round Closed

25 May 2012

All lights are green - all systems are go!

A couple of days ago, I was talking to one of our early investors and he said, “Dude – you guys aren’t even on the launch pad yet – you’re still moving the rocket into position.”  And while it feels like our little robot has always been with us, in reality we only started shipping units 5 months ago. We are now just turning on our retail partners and getting started with apps for Sphero.

Nevertheless, we have made great progress to date and now we need to take things to the next level. It's time to launch the rocket.

That’s why we are proud to announce that on May 23rd, we closed another $5m of financing lead by Foundry Group and Highway 12 Ventures. We are super excited to have their continued support as we grow our business to build the first robotic gaming system, Sphero.

What does that mean for our fans, customers and partners? Well, it just means all our dreams for Sphero are going to be realized. Thanks to everyone for all your support so far – Sphero is only going to get better.  I'm looking forward to sharing all the new apps and developments we have coming in the future. It will be as marvelous and exciting as when we first debuted our prototypes for Sphero back in 2011.

Stay tuned  – more cool things will soon be rolling your way!

Paul Berberian
CEO

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