Sphero secures new round of funding

Sphero, the toy firm behind the enormously successful Star Wars BB-8 toy has secured a new round of funding, raising $35 million of a $43 million investment round.

The Denver Business Journal has reported that new funds will go to investing in the business, marketing, and expanding product lines, adding to the $115 million the firm has raised since it was founded in 2010.

The US toy company found success in holiday 2015, when the spherical BB-8 toy shot to the top of the toy charts due to the success of Star Wars: The Force Awakens.

The announcement came on the same day as the DVD and Blu-Ray launch of Rogue One: A Star Wars Story. In honour of the launch, the firm released a software update to enable its BB-8 robots to react to the movie when watching it with their owners.

About Robert Hutchins

Robert Hutchins is the editor of ToyNews and its sister title, Licensing.biz. He has worked his way from Staff Writer to Editor across the two titles, having spent almost eight years with both and what now seems like a lifetime surrounded by toys. You can contact him by emailing robert.hutchins@biz-media.co.uk or calling him on 0203 143 8780 You can even follow him on Twitter @RobGHutchins if ranting is your thing...

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