April 8, 2011

Orbotix Closes $5 Million Series B Funding by Foundry Group and Highway 12 Ventures

Orbotix, creators of the robotic ball Sphero, announced the closing of a $5 million dollar Series Be investment from Foundry Group and Highway 12 Ventures. Managing Partner at Highway 12 Ventures, Mark Solon, will also be joining the Orbotix Board.

Boulder, CO (PRWEB) April 7, 2011

Today Orbotix announced the closing of a $5 million dollar Series B investment from Foundry Group and Highway 12 Ventures.

Orbotix is the creator of Sphero, the playful robotic ball that is controlled by your smartphone. Sphero is a new kind of entertainment device that combines play in the real world with games in virtual world, creating a mixed-reality experience. Any iOS or Android device can control and run programs for Sphero. And with an open application interface, developers can build their own programs to make Sphero play on their command.

"The support provided by Foundry and Highway 12 is a great vote of confidence in our plans for the company," said Paul Berberian, CEO of Orbotix. "It shows their belief in our vision and that entertainment is a great place to innovate how people interact with their technology. We are excited to use this funding to get Sphero ready for the limelight, on course for a holiday 2011 launch."

Since Sphero debuted at CES in January, thousands of fun-loving, smartphone toting techies have signed up and reserved their place in line to be among the first Sphero owners.

"Orbotix is really doing something cool and different," said Mark Solon, managing partner of Highway 12 Ventures. "They are pushing the boundaries of mixed-reality and fun and we think Orbotix has an opportunity to create a huge new category in gaming."

"I've worked with the Orbotix team since their participation in the TechStars program in Boulder last summer." said Brad Feld, managing director of Foundry Group. "The progress they have made is remarkable on their quest to create an entirely new category of entertainment devices, starting with a ball controlled by your smartphone."

Sphero is the first product from Orbotix and will be launched this holiday season. Using Bluetooth technology, Sphero can be controlled from either iOS or Android devices. At launch Sphero will be priced around $130 and will come with multiple games and applications.

With the financing, Mark Solon of Highway 12 Ventures will be joining Foundry Group's Brad Feld on the company's board of directors.

Important Links

Reserve Sphero "“ http://www.gosphero.com/reservation

About Sphero - http://www.gosphero.com

About Orbotix

Orbotix is focused on bringing a new concept of fun through robotics and phone-controlled open devices. Their first product, Sphero, uses Orbotix's API to create the first robotic ball controlled by your smartphone. Founded by passionate lifelong robotic engineers, Orbotix is working to bring the real world to your smartphone. Based in Boulder Colorado, the Orbotix team takes fun very seriously, for more information visit http://www.orbotix.com.

Press contact:

Meghan Murphy



For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2011/04/prweb5228424.htm