UK startup Tech Will Save Us has raised $4.2m (£3m) in a Series A round led by Initial Capital.
Backed VC, SaatchInvest, AllBright, Unltd-inc and Leaf VC participated in the round.
Angel investors Chris Lee, co- founder of Media Molecule; Martin McCourt, former CEO of Dyson; and Jonathan Howell, CTO of Made.com, also participated.
The money will be used to expand the startup’s product range.
Based in London, Tech Will Save Us was set up by husband and wife Bethany Koby and Daniel Hirschmann, in 2012.
The startup’s, which has partnered with Disney, has produced varied range of toys in a bid to encourage children to expand their skill sets and prepare them for the future.
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“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, went on to comment: “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.”
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