A brief appearance in the trailer for the latest not only elevated robotics toymaker Sphero to a new level of geekdom, it helped the Boulder company attract $45 million in venture capital.
Sphero announced the new funding Tuesday. Led by existing investor Mercato Partners, the round also included The Walt Disney Company, which owns the “Star Wars” franchise.
“There’s a perfect storm brewing in the toy industry, and our emerging technology will forever transform the way people play,” Sphero CEO Paul Berberian said in a statement.
He said the money will be used to grow the team and speed up development of its next generation of robotic entertainment, as well as a global expansion. The company is on a hiring binge. It has hired 15 people and has 14 openings on . It currently employs 72 people.
Sphero — formerly called GearBox and, later, Orbotix — got its start in Boulder’s in 2010, where it mixed robots with gaming and a mobile app. It found early investors in .
While Sphero had raised $35 million prior to Tuesday’s news, the company had a breakout moment in April when Lucasfilm president Kathleen Kennedy in the trailer for “Star Wars: The Force Awakens” was enabled by Sphero’s technology.
Sphero had attracted Disney’s attention when it participated in last year. Its mentor was Disney CEO Bob Iger, who put Sphero in touch with “Star Wars.”
Fans went crazy when Kennedy let it slip that the Boulder company was involved, and Sphero quickly put together to inform fans interested in news.
“I think anything the ‘Star Wars’ franchise engages with has the opportunity for massive jump in valuation. It’s a globally, massive brand,” said Erik Mitisek, CEO of the Colorado Technology Association. “The larger story is Sphero has a larger platform. … Sphero bridges the world of entertainment, games and play with what I’m sure the future is as an integrated, Internet of Things connected world.”
He pointed to the trend of devices connected to the Internet — the so-called Internet of Things. Last year, Google-owned Nest thermostat acquired Boulder’s Revolv, which built technology to help smart-home Internet devices — such as thermostats, doorbells and light bulbs — be controlled with one app.
Funding also comes after one of the since 2008. According to The MoneyTree Report by PricewaterhouseCoopers, Colorado companies raised $793.1 million across 86 deals. On average, local companies received $5 million per deal during the first quarter this year.
“I think it’s great news for everyone when investments are made like this in Colorado,” said Todd Headley, president of CSU Ventures, which pairs bioscience startups from the school with local angel investors.
The new funding brings Sphero’s total to $80 million.
