Sphero raises $26.8 million

This story has been updated with comments from Sphero CEO Paul Berberian.

BOULDER — Sphero Inc. has closed on its yearlong $26,869,720 funding round.

The company, which builds smartphone-controlled toys and kits to teach robotics to schoolchildren, raised the funds through equity sales to 10 investors, according to filings with the U.S. Securities and Exchange Commission. The funding round began in May 2018.

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Sphero has raised a total of $120.3 million over its past 12 rounds, according to Crunchbase. That includes $1,006,252 from a Kickstarter campaign that closed this April for its upcoming RVR app-controlled car.

In a statement, Sphero CEO Paul Berberian said the company will use the funds for acquisitions or other investments.

“Sphero’s financing will be used to drive future growth, in the form of opportunistic acquisition or investments, and support the company’s mission of inspiring the creators of tomorrow. Sphero will continue to build programmable robots and education tools that transform the way kids lean and create through coding, science, music and the arts. Sphero is the leading robot used in classrooms and has raised the standard for inspiring a new generation through hands-on, applied learning. Sphero creates the best robots and tools, and that’s not all; we offer thousands of activities and resources to help kids, teachers and parents go #BeyondCode.”