BOULDER — Codepops Inc., the parent company for the educational children’s toy Bitsbox, has raised $2.3 million in an equity offering.
The company seeks to raise a total of $3.1 million, according to a Form D filed with the U.S. Securities and Exchange Commission on June 1. The date of first sale for the offering was May 18.
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BitsBox is using the funds to grow its team, said co-founder Aidan Chopra. The company is planning to hire a variety of positions over time — a graphic designer, educational content creator, Web developers, a retention specialist in marketing, a technical customer support specialist, an education specialist and a logistics specialist for operations. The plan is to put the positions out there and fill them as the right people come along.
With nine employees already, Bitsbox plans to add about four more this year.
In addition to growing its team, Chopra said, the company plans to grow its subscription service. Each Bitsbox includes instructions and tools to teach children ages 6 to 14 how to code. Each box builds on the last to not only initially teach coding skills but also to maintain, grow and practice them.
“Kids should learn this new form of literacy,” Chopra said. “It’s as core to kids’ ability to thrive in the workforce as is learning to read, write and do math. Coding is how everything operates and kids need to understand.”
To reach more kids, Bitsbox is also growing its partnership with schools, so that kids who might not be able to afford a monthly subscription can still have access to the tools and skills available.