Friday, May 25, 2012

Orbotix Gains $5M In New Funding

Boulder-based Orbotix said Friday afternoon that it has raised another $5M in funding, led by Foundry Group and Highway 12 Ventures, to help grow the company's business. According to a note posted by CEO Paul Berberian, the firm says it now needs to "take things to the next level". Orbotix just inked its first, big retail deal with Brookstone, which just debuted the robotic ball in its retail stores this week. The company's first institutional funding round was back in October of 2010, when both Foundry and Highway 12 also participated. Orbotix develops the Sphero robotic ball, which can be both controlled and programmed via iPhone and Android smartphones. More information »