Play-i, a Mountain View, California-based robotics startup that aims to make programming for preschoolers fun, announced today that it raised $8 million in Series A financing from Madrona Venture Group and Charles Rivers Ventures. Both firms had previously participated in Play-i’s 2013 Seed Round.
Play-i has previously raised a $1 million Seed Round and a $1.44 product crowdfunding. With this latest round the startup is now valued at around $25 million.
According to what CEO Vikas Gupta told the WSJ this recent round of funding is enough to take Play-i through 2016 “We don’t want to be distracted from innovating”.
Play-i will now focus on shipping its first batch of 15.000 robots and to expand the team of engineers and the developer API that is going to be released next month. The delivery of the first batch is expected for later this year.
In order for Play-i to succeed It will be necessary to have a portfolio of apps ready as soon as the robots will meet their customers as the principle behind Play-i is to allow kids to program their robot through pre-configured chunks of code.
Play-i currently offers two robots on pre-order called Bo and Yana. Bo costs $169 and Yana $59. The robots are also available as a bundle that costs $228.
- Educational Robot Co. Play-i, Secures $8M to Build Apps & Expand | WSJ
- Play-i raises $8M to teach the iPad generation how to code one pint-sized robot at a time | Geekwire
- Play-I Robots Gear Up for Growth Spurt | Nasdaq