Tech Will Save Us, the London startup on a mission to get kids excited about technology through ‘hackable’ toys, has secured an additional £1.6 million Series-A extension, taking the total round of funding to £5.3 million.
The extension was led by Brighteye Ventures, Europe’s largest EdTech focused VC and the funding will be used to accelerate development of the company’s exclusive DIY gadgets.
It will also look to now expand into new global territories.
Tech Will Save Us was founded in 2012 by husband-and-wife pair Bethany Koby and Daniel Hirschmann in response to dissatisfaction with traditional STEAM (science, technology, engineering, arts and maths) based-toys available on the market.
The company’s diverse products are available in over 4,000 stores globally and it has already secured numerous high-profile partnerships, developing a superhero themed electronic building kit with Marvel and a coding kit with the BBC.
The additional funding from Brighteye Ventures (BEV) will facilitate development of an ever-growing roster of intuitive and educational toys for children of all ages.
Alex Spiro, managing partner of BEV Advisors, will also be joining the Tech Will Save Us board.
Brighteye Ventures is Europe’s first and largest EdTech VC, having closed its first €50m fund in November 2017. Recent investments include Aula, the Oxford-student founded digital communication platform for universities, and Epic!, the leading subscription platform for children's books and videos.
Bethany Koby, founder and CEO of Tech Will Save Us, said: “This new capital will help us continue to develop new STEAM-based products and expand in to new markets in Europe.
"We are thrilled to have BEV onboard as strategic advisors as we enter a new period of accelerated growth, and we look forward to working alongside Alex and his team.”
Alex Spiro, managing partner of Brighteye, added: “Brighteye is delighted to join the board of TWSU as investors and advisors, to help Bethany, Daniel and their team continue to build on their education strategy and distribution.
Tech Will Save Us’ mission to spark the creative imagination of young people using hands-on technology is perfectly aligned with how we see the future of learning, and we look forward to participating in their exciting journey.”