littleBits, the New York City based open hardware startup, has raised a $11.M Series B round of funding led by True Ventures (@trueventures) and Foundry Group (@foundrygroup) and includes new investors Two Sigma Ventures (who had also just led an $11.5M investment in Rethink Robotics, and is invested into Floored (@Floored), who I have blogged about before) and Vegas Tech Fund (@VegasTechFund). Returning investors Khosla Ventures (@vkhosla), Mena Ventures, Neoteny Labs, O’Reilly AlphaTech (@OATV), Lerer Ventures (also invested into Floored) (@lererventures) and new and returning angel investors also participated. littleBits had previously raised $3.65M in Series A funding, and $850K in seed funding, bringing its total raised to date to over $15M.
littleBits mission is to “turn everyone into an inventor by making electronics accessible as a material.” littleBits makes “Bits modules” that snap together magnetically to make it easy for children and adults to build simple circuits and inventive projects in seconds. littleBits, and its CEO Ayah Bdeir (@ayahbdeir) have won numerous awards and are viewed as leaders in the maker movement.
I previously profiled littleBits in my two part blog series in November and December 2012 looking examining the intersection of the makers movement with the “Minecraft generation” in my own house – as I try to get my own kids to focus more on the worlds of atoms instead of bits. You can find those two posts here: (1) http://3dsolver.com/the-makers-movement-intersects-with-the-minecraft-generation/ and (2) http://3dsolver.com/the-maker-in-the-minecraft-generation-part-duex/
Congratulations to littleBits!