Orbotix Inc., Boulder-based maker of Sphero, raises $4M more

Orbotix Inc., the Boulder-based firm that manufactures the smartphone-controlled Sphero robotic ball, appears to have raised $4 million of a nearly $10 million investment round, according to Securities and Exchange Commission filing made Thursday.

Sphero (Credit: Orbotix Inc.)

Sphero (Credit: Orbotix Inc.)

Three investors have contributed to the equity offering, according to the filing. The date of the first sale was April 26.

To-date, Orbotix has raised more than $11.1 million since it launched out of the TechStars program in 2010.

Roughly 45 percent of that total funding came last May in a round led by Boulder’s Foundry Group and the Boise-based Highway 12 Ventures. The $5 million raised last year was put toward apps and additional development costs for its Sphero ball devices, which had started shipping in January of 2012.

Since that time, Sphero has landed in the hands of President Barack Obama, garnered attention for its augmented reality offerings and has gained steam as an educational tool.

Foundry’s Brad Feld highlighted a “Sphero Rangers” event in a recent blog post:

“The Orbotix team has turned their Sphero into a fantastic programming aid to introduce coding to kids as young as 4th grade.  In about an hour kids will be commanding their robot to drive geometric patterns while also learning a bit about

angles, degrees, time and distance calculations, loops and conditional branching. If your my age, you might remember Logo and turtle graphics. It turns out to be really cool to toss a robot into the mix, instead of just a computer screen.

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About Alicia Wallace

Alicia Wallace is the business reporter for the Boulder Daily Camera.
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11 Responses to Orbotix Inc., Boulder-based maker of Sphero, raises $4M more

  1. ween1 says:

    Cool! GREAT JOB!!!

  2. Awesome post, the video is interesting

  3. This is really gud project

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  5. What a great project! Glade they were able to raise the funds they need

  6. wow, monsterous amount of money to raise! Glad they could do it

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