What is Sphero?
Sphero develops cutting-edge, programmable robots and STEAM-based educational tools designed to enrich the learning journey for children. By integrating coding, science, music, and arts, Sphero transforms how young minds create and innovate. The company's mission is to cultivate essential 21st-century skills such as critical thinking and problem-solving through engaging, hands-on exploration of STEM concepts. Primarily serving educators and students in K-12 environments, Sphero provides comprehensive resources and support to advance STEM and computer science education globally.
How much funding has Sphero raised?
Sphero has raised a total of $151.7M across 17 funding rounds:
Private Equity
$4M
Multiple Rounds
$37.6M
Multiple Rounds
$59.1M
Private Equity
$23.8M
Other Financing Round
$12.1M
Debt
$2M
Debt
$2M
Private Equity (2013): $4M, investors not publicly disclosed
Private Equity (2014): $15.5M, investors not publicly disclosed
Series D (2014): $20M with participation from Foundry Group, Shea Ventures, Highway 12 Ventures, and Grishin Robotics
Private Equity (2014): $996K, investors not publicly disclosed
Other Financing Round (2014): $120K supported by Disney Accelerator and Techstars
Series C (2014): $997K, investors not publicly disclosed
Private Equity (2015): $11M, investors not publicly disclosed
Other Financing Round (2015): $45M with participation from The Walt Disney Company, Mercato Partners, and Foundry Group
Private Equity (2015): $2M, investors not publicly disclosed
Unspecified (2015): $1.2M, investors not publicly disclosed
Private Equity (2017): $23.8M, investors not publicly disclosed
Other Financing Round (2018): $12.1M backed by The Walt Disney Company and Mercato Partners
Debt (2020): $2M with participation from PPP
Debt (2021): $2M led by PPP
Key Investors in Sphero
Foundry Group
Foundry Group is a venture capital firm focused on investing in early-stage information technology, Internet, and software startups. In addition to providing the necessary venture capital to get a company up and running, Foundry Group is committed to leveraging their experience in starting and growing companies, expertise in the technology industry, and network of relationships to help great entrepreneurs turn great ideas into great companies. Foundry Group is based in Boulder, Colorado, and invests in companies located across the United States.
The Walt Disney Company
The Walt Disney Company is a diversified international entertainment and media enterprise. It operates through various segments including media networks, parks, experiences and products, studio entertainment, and direct-to-consumer and international. Disney is known for its theme parks, film studios, and television networks.
Mercato Partners
Mercato Partners Acquisition Corporation does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It focuses on identifying, acquiring, and operating a business in technology or branded consumer products sector. The company was incorporated in 2021 and is based in Cottonwood Heights, Utah.
What's next for Sphero?
With a major enterprise-level funding context and a recent strategic investment, Sphero is well-positioned for accelerated growth and product development. This capital infusion is expected to fuel further innovation in their educational robotics and STEAM offerings, potentially expanding their market reach into new educational segments or geographical regions. The company's trajectory suggests a continued focus on empowering educators and students with advanced learning tools, reinforcing its role as a leader in the edtech landscape.
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