Our Investment in littleBits
by Brad Feld
We are pleased to announce that we’ve co-led the $11m Series B funding of littleBits. Based in New York, littleBits mission is to democratize electronics so that society can be creative with electronics in the way it is with software.
We love robots and electronics. The maker movement is in full swing. 3D printing doesn’t seem foreign or cutting edge any more. Consumer electronics companies – like Fitbit – are accelerating at an unprecedented rate. The Internet of Things is no longer a strange phrase.
littleBits is on a mission to Internet-enable every physical device on the planet. To give everyone – from kids to adults – the components to be able to do amazing things with electronics, the same way we can do things with software. Just as MakerBot set out to make 3D printing mainstream, littleBits is on a mission to give everyone electronics they can use to create, learn, and build things.
We’ve looked at many dozens of “Internet of Things” related companies and passed on all of them. Many of the technologies were interesting, but none had the vision, leadership, or broad goals of littleBits. It wasn’t until spending time with littleBits founder and CEO Ayah Bdeir, that we finally felt like we’d met someone who had the potential to create a transformational company in this arena.
We’re excited to welcome Ayah and the littleBits crew to the Foundry Group family.