From gaming and entertainment funds
Tech Will Save Us, the UK startup fusing the power of play with the possibilities of technology through toys, have announced the completion of a $4.2 million (£3 million) Series A round of financing led by Initial Capital with participation from Backed VC, SaatchInvest, All Bright, Unltd-inc, Leaf VC plus angel investors Chris Lee (co-founder of Media Molecule), Martin McCourt (ex CEO of Dyson) and Jonathan Howell (CTO of Made.com).
The new financing will enable Tech Will Save Us to further scale their business as they build the most empowering STEAM play universe uniting digital and physical toys. The capital will help expand their product range and strengthen the Tech Will Save Us mission to create a brighter future for kids by encouraging them to create with, rather than be fearful of or passive to, technology.
The funding comes as Tech Will Save Us prepares to launch their first partnership with Disney, which will be a Marvel Avengers themed kit inviting children to help the superheroes complete secret missions. Children will learn and conquer basic electronics through exciting, story led missions. The Electro Hero kit has been in development for 8 months and launches on 15th March ahead of the film release of Avengers: Infinity Wars, which is in cinemas from April 27th.
Tech Will Save Us is the realised vision of its founders, Bethany and Daniel. As parents, creatives and entrepreneurs, they saw the possibility of combining play with the opportunities of STEAM learning to create fun, accessible experiences for kids.
“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, said: “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”.