littleBits makes easy-to-use electronic building blocks and kits that snap together with magnets to let anyone prototype electronics without soldering, wiring, or programming. Its platform includes more than seven kits and 67 interoperable modules, with millions of products sold in over 100 countries. The company is focused on STEM/STEAM education and has a Global Chapters Program and a customer base of more than 8,000 educators and 2,100 schools and universities. littleBits plans to use new funding to expand STEM/STEAM distribution, grow its global footprint, develop enterprise initiatives with partners such as SAP, Twilio and Salesforce, and increase retail availability. The company highlights recent retail partnership activity (Barnes & Noble) and executive hires to support product, marketing and operations expansion. LittleBits, founded in 2011 by CEO Ayah Bdeir, provides a library of electronic Bits™ modules that snap together with magnets to let designers, artists, schools and after-school programs build simple circuits and inventive projects for play, prototyping and learning. The company is New York City–based and has a 29-person team and is hiring to add staffers. In September 2013 it launched an Exploration Kit series, and in early November it announced a Synth Kit created in partnership with KORG. The firm said it will release two products in the coming months in partnership with science and technology leaders. LittleBits previously raised $3.65M in Series A funding and $850K in seed funding. The company raised $11.1M in this funding round to support its product and distribution plans. LittleBits produces snap-together magnetic electronic modules (light, sound, sensors, motors, etc.) sold in starter packs and add-on modules; an initial pack retails for $89. The product is explicitly open-source: users are encouraged to upload and share creations on the company site. About 30 modules were on offer at the time of the article, and roughly 60–70% of buyers are parents and kids, 20% are schools/educators, with the remainder hobbyists and electronics enthusiasts. The company reported selling over 2,000 units in the first two weeks after its December 2011 launch and says it is currently overrun with orders. Founder Ayah Bdeir, a TED Fellow and MIT Media Lab alum, positions the product as both an educational toy and a prototyping aid; Joi Ito and other notable angels participated in earlier financing. To scale production and keep costs affordable the company signed a manufacturing and supply-chain deal with PCH International, which will begin manufacturing in August and assume logistics and supply-chain management.

Total raised

$59M

Funding rounds

3

Latest round

Series B

Latest activity

Jun 2015