Big News! We Raised $44.2M in New Funding and are Expanding Our Executive Team!
See the official press release here.
We’ve got some BIG news!
In one of the largest Series B rounds of the maker movement, our company successfully raised $44.2 million in new funding.
Our goal is to use this latest round of funding to invest in further STEM/STEAM education distribution and increase our global footprint, which already includes more than 100 countries, 8,000 educators and 2,100 schools and universities who are using littleBits to create inventions.
“The stories we hear everyday, from school programs using littleBits to teach STEM and language learning to immigrant youth, Fortune 100 companies tapping littleBits to unleash creativity in the workplace, and children’s hospitals using littleBits as alternative therapy, show the true power of littleBits as a hardware platform,” said founder and CEO Ayah Bdeir. “Our goal is to have littleBits in every home, every school, every creative space and unleash the creativity inspired by understanding electronics so that everyone can become an inventor.”
Our Investors Are Rockstars
This additional funding round was led by DFJ Growth — investors in SpaceX, SolarCity and Box — with additional participation from new investors Morgan Stanley Alternative Investment Partners, Grishin Robotics and Wamda Capital, among others. Prior investors that participated in this new funding round include Foundry Group, True Ventures, Vegas Tech Fund, Two Sigma Ventures and Khosla Ventures.
We’re also very excited to welcome Barry Schuler of DFJ Growth, one of the pioneers of the modern Internet, and former chairman and CEO of America Online Inc., as a new board member.
We’re honored to be working together.
A Couple Of Warm Welcomes
We know that we have a big road ahead of us. To support our goals, we have recently added several key executives to the littleBits family.
We’re incredibly proud to welcome the latest additions to our executive team: Jenny Lawton, former CEO of MakerBot, who joins the leadership team as chief strategy officer; former LEGO executives Paal Smith-Meyer and Christian Thor Larsen, joining the company’s strategic committee on global product and marketing expansion. Joey Neal, previously at MakerBot and R/GA, has joined as vice president of user experience and digital product, while Shirish Joshi, previously vice president of operations at Pluribus Networks, joins as vice president of supply chain.
We’re Going Global
We’re going to be greatly expanding retail availability in the coming quarter, so stay tuned! As part of this effort, we’re partnering with Barnes & Noble stores to empower the spirit of invention in its retail stores across the U.S.
We’ve also recently rolled out a Global Chapters Program, an initiative to empower local communities to use our electronic building blocks to reinvent the world around them, in support of President Obama’s “Educate to Innovate” initiative announced at the 2015 White House Science Fair.
Since launching at the end of March, we’ve been fortunate to see more than 100 chapters opened in cities around the world, from Beijing to Rio de Janeiro, Lagos to Oslo, Chicago to Kuala Lumpur and beyond.
A Big Thank You
Last, but certainly not least, we wanted to express our gratitude.
To our amazing global community of supporters, followers, and makers: thank you!
We owe much of our achievements to you and are blessed to have you on the littleBits path to success.