Smartphone Toy Company Orbotix Raises $5 Million

Orbotix is a smartphone toy company that has raised $5 million in Series B funding from Foundry Group and Highway 12 Ventures. Orbotix plans on launching a toy called Sphero this fall. Sphero is a robotic ball that can be controlled by iOS and Android devices. Orbotix spun out of the TechStars incubator. Sphero costs $130 and will include multiple games and apps. Mark Solon of Highway 12 Ventures and Brad Feld of Foundry Group will be joining the company board of directors as part of the funding deal. [TechCrunch]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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