US firm LittleBits receives funding; mass production underway next month.
A New York-based company that has paired toys with computer electronics has secured $3.65 million in funding.
The company, LittleBits, has manufactured a unique product: tiny circuit boards that snap together using magnets, allowing users to create their own circuits.
Each ‘Bit’ has its own function, whether it’s a light, sound, sensor, button, motor or something else.
VentureBeat reports the firm has received $3.65 million from a seed funding round led by True Ventures, with participation from Khosla Ventures, O’Reilly AlphaTech Ventures and Lerer Ventures.
LittleBits is working with supply chain management firm PCH International to get its LittleBits products into mass production from August. A starter kit is priced at $89.
“We spend more than seven hours with technological devices every day, yet most of us don’t even know how they work,” said LittleBits founder Ayah Bdeir.
“LittleBits aims to break the boundary between the things we consume and the things we make, and make everyone into an inventor. We want LittleBits to be an affordable educational tool that is used in schools everywhere, and our new funding and new relationship with PCH means that we can now expand our team and reach even more people around the world.”
A statement from LittleBits read: “Just as Lego allows you to create complex structures with very little engineering knowledge, LittleBits are small, simple, intuitive blocks that make creating with sophisticated electronics a matter of snapping small magnets together.”
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