Thursday, September 26, 2013

Foundry Group Adds To Robot Army, Funds Drone Maker

Need your own robot army? You might try asking local venture capital investor Foundry Group, which has just added another, robot maker to its portfolio of investments, with an investment in aerial drone maker 3D Robotics. According to 3D Robotics, Foundry Group joined with True Ventures to lead a $30M funding round to bolster its efforts to supply do-it-yourself unmanned aerial vehicles and software. The investment is far from the first investment by Foundry into the robotics area; the company already has a stake in Boulder's own Orbotix, the maker of the Sphero robotic ball and Modular Robotics, the maker of the "Cubelets" educational robots. 3D Robotics' other investors include O'Reilly AlphaTech Ventures and SK Ventures; the firm's CEO is Chris Anderson, the former editor-in-chief of Wired Magazine. More information »