UK startup Tech Will Save Us inks $4.2 mln Series A


UK-based Tech Will Save Us, a creator of toys that kids can build and code themselves, has raised $4.2 million in Series A funding. Initial Capital led the round with participation from other investors that included participation from Backed VC and SaatchInvest.

PRESS RELEASE

LONDON – March 14th, 2018 – Tech Will Save Us, the UK startup fusing the power of play with the possibilities of technology through toys, have announced the completion of a $4.2 million (£3 million) Series A round of financing led by Initial Capital with participation from Backed VC, SaatchInvest, All Bright, Unltd-inc, Leaf VC plus angel investors Chris Lee (co-founder of Media Molecule), Martin McCourt (ex CEO of Dyson) and Jonathan Howell (CTO of Made.com).

The new financing will enable Tech Will Save Us to further scale their business as they build the most empowering STEAM play universe uniting digital and physical toys. The capital will help expand their product range and strengthen the Tech Will Save Us mission to create a brighter future for kids by encouraging them to create with, rather than be fearful of or passive to, technology.

The funding comes as Tech Will Save Us prepares to launch their first partnership with Disney, which will be a Marvel Avengers themed kit inviting children to help the superheroes complete secret missions. Children will learn and conquer basic electronics through exciting, story led missions. The Electro Hero kit has been in development for 8 months and launches on 15th March ahead of the film release of Avengers: Infinity Wars, which is in cinemas from April 27th.

Tech Will Save Us is the realised vision of its founders, Bethany and Daniel. As parents, creatives and entrepreneurs, they saw the possibility of combining play with the opportunities of STEAM learning to create fun, accessible experiences for kids. So they made it their mission to make this a reality, not just for their own kids but children everywhere. Following the launch of their first DIY kit, Tech Will Save Us has grown into a wide range of products and in 2016, they partnered with the BBC to design the micro:bit, the most ambitious education product the BBC has created in over 30 years. A pocket sized computer used to teach young people to make and code, the micro:bit was given to 1 million kids for free. Tech Will Save Us has now sold their tech kits to over 97 countries and is available in over 4000 retailers globally including Amazon, Target and Best Buy.

“We are so proud of the investors we have been able to attract and work with. They will not only bring expertise and insights from the gaming industry but they align with our values as parents and entrepreneurs to use our time to impact the next generation in a positive way. Our shared ambition is to empower kids to be creative and play with technology in order to help kids shape the world.” said Bethany Koby, founder of Tech Will Save Us.

Alvaro Alvarez del Rio, Partner at Initial Capital, said: “We have been excited about the intersection of games and connected devices for years. Tech Will Save Us has put together an outstanding team that brings a fresh approach to learning experiences – fun, educational and affordable. Its broad suite of products and brand partnerships appeal to a diverse audience of curious kids from early years into their teens who have traditionally not been able to enjoy interactive experiences with their physical toys. We are thrilled to support this ambitious vision”

“As an organisation with a mission to make the UK the best place in the world to be a female entrepreneur, we are delighted to invest in female-led business Tech Will Save Us at such an exciting stage in their journey. As a tech entrepreneur as well as a mother to young children, I see the potential in the market for Tech Will Save Us to thrive in their mission to combine play with education and STEM learning to equip a future generation in these essential skills. We are thrilled to be part of the journey in growing this innovative British brand.” said Debbie Wosskow and Anna Jones, co-founders of AllBright

“As a parent, I’m in constant awe of my son’s voracious appetite and ability to engage with technology, solve problems and embrace complex patterns of interactivity. At the same time I’m amazed by how poorly this next generation of children are served by toys, games and interactive entertainment experiences. I’m therefore thrilled to be able to support pioneers such as Bethany, Daniel and the entire team at Tech Will Save Us on their mission to combine play and fun in order to stimulate STEM learning. Their passion, ideas, talent and determination make them perfectly placed to shape the future of both the toy industry and my son’s hunger for learning!” said Chris Lee, co-founder of Media Molecule.

“We are so proud of the investors we have been able to attract and work with. They will not only bring expertise and insights from the gaming industry but they align with our values as parents and entrepreneurs to use our time to impact the next generation in a positive way. Our shared ambition is to empower kids to be creative and play with technology in order to help kids shape the world.” said Bethany Koby, founder of Tech Will Save Us.

About Tech Will Save Us: Tech Will Save Us was founded in 2012 by co-founders Bethany Koby and Daniel Hirschmann with a mission to inspire kids by combining the power of play with the possibilities of technology through toys. By creating toys that kids can build and code themselves, Tech Will Save Us is dedicated to empowering kids – and the adults who love them – with the confidence and skills to create the future. With thousands of kits sold in over 97 countries, the company has grown into a wide range of products designed for a variety of age groups that taps into a wealth of different skill sets. Tech Will Save Us products are available via www.techwillsaveus.com and select major retailers across the world including Amazon, Target and Best Buy.

About Initial Capital: Initial Capital is a leading seed venture capital investor with a focus on games, consumer internet and technology enablers. Based in London and San Francisco and started by the founders of Playfish (exited to Electronic Arts) and Glu Mobile (NASDAQ:GLUU), Initial Capital has previously backed companies like Supercell (exited to Softbank), Super Evil Megacorp, Nexmo (exited to Vonage), Tenor and Space Ape (exited to Supercell)

About Chris Lee: Chris is an active angel investor in mobile gaming with over 20 portfolio companies. He previously co-created console studios such as Media Molecule and FreeStyleGames, and held Vice President roles at both Activision and Electronic Arts. Chris was recently named in MCV’s Top 100 most influential Brits in the Games Industry.

Find new deal opportunities, super-charge your fundraising efforts and track top managers with VCJ. Get your FREE trial! Or subscribe now!