Orbotix raised $20 million funding round

By Staff Reporter

May 02, 2014 04:36 PM EDT

Boulder, Colorado-based Orbotix has received $20 million investment bringing the company’s total funding to $35.2 million.

According to a TechCrunch report, the company is preparing to start selling its next product after making the popular Sphero ball available in the market. The new product, the cylindrical Ollie, would be launched later this year.

TechCrunch continued the report saying that they were still finding out the total valuation of Orbotix after the new funding was made including the investors involved in the funding round. In 2013, the company has received $15.2 million investment from

TechStars, Highway 12 Ventures, Foundry Group and SK Ventures. The investment included Series A, B and C funding rounds and a partial close last year. Earlier in 2014, the company has raised $50,000.

The small investment raised by Orbotix was from investors Jason Mendelson and Brad Feld from Foundry Group and Highway 12’s Mark Solon. This could be an indication that the investors of the last round could be the same ones for the latest investment.

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