Tech Will Save Us attracts £3m funding
Technology Will Save Us, which designs make-it-yourself kits and toys to get children excited about technology, is set for further growth after raising £3m in funding.
The London-based start-up was established in 2012 by co-founders Bethany Koby and Daniel Hirschmann with a mission to inspire kids by combining the power of play with the possibilities of technology through toys.
The Series A funding round was led by Initial Capital with participation from other backers including former Dyson CEO Martin McCourt, Made.com CTO Jonathan Howell, Media Molecule co-founder Chris Lee, female entrepreneurship platform AllBright, Initial Capital, Backed VC, SaatchInvest, Unltd-inc and Leaf VC.
The financing will allow Tech Will Save Us to further scale the business and help expand its product range.
It comes as the business prepares to launch its first partnership with Disney, which will be a Marvel Avengers-themed kit inviting children to help the superheroes complete secret missions. Children will learn and conquer basic electronics through story-led missions.
"We are so proud of the investors we have been able to attract and work with," said co-founder Bethany Koby (pictured below).
"They will not only bring expertise and insights from the gaming industry but they align with our values as parents and entrepreneurs to use our time to impact the next generation in a positive way. Our shared ambition is to empower kids to be creative and play with technology in order to help kids shape the world."
Alvaro Alvarez del Rio, partner at Initial Capital, added: "We have been excited about the intersection of games and connected devices for years. Tech Will Save Us has put together an outstanding team that brings a fresh approach to learning experiences – fun, educational and affordable.
"Its broad suite of products and brand partnerships appeal to a diverse audience of curious kids from early years into their teens who have traditionally not been able to enjoy interactive experiences with their physical toys. We are thrilled to support this ambitious vision."
Following the launch of its first DIY kit, Tech Will Save Us has grown into a wide range of products and in 2016, it partnered with the BBC to design the micro:bit, a pocket-sized computer used to teach young people to make and code which was given to one million kids for free.
Tech Will Save Us has now sold their tech kits to over 97 countries and is available in over 4000 retailers globally including Amazon, Target and Best Buy.
Debbie Wosskow and Anna Jones, co-founders of AllBright, said: "As a tech entrepreneur as well as a mother to young children, I see the potential in the market for Tech Will Save Us to thrive in their mission to combine play with education and STEM learning to equip a future generation in these essential skills.
"We are thrilled to be part of the journey in growing this innovative British brand."