SOURCE: Ozobot

Ozobot

February 02, 2015 07:00 ET

Hot From CES, Evollve Inc. Sets Sights on Toy Fair While Gearing Up for Series B Round

Second Round Will Coincide With the Launch of Ozobot Bit

REDONDO BEACH, CA--(Marketwired - February 02, 2015) - At the 2014 Consumer Electronics Show (CES) Evollve Inc. showed off Ozobot, the tiny smart robot that teaches kids the basics of coding, to great reception. This year's CES wrapped with all eyes on Evollve's new introduction, Ozobot Bit. Bit is mostly based on the hardware design of the original Ozobot but Bit is programmable via both color-based code language and Goggle's block-based programming editor Blockly. So great was the interest for Bit that Evollve is excited to announce that its Series B round of fundraising is currently open, the company is seeking to raise $5-$7 million in this round, between a mix of private investors, strategics and venture capital firms.

"We've been very fortunate with our Series A fundraise, and already have received great interest in our Series B round of financing," said CEO Nader Hamda. "Our goal is make education fun and accessible to all through intelligent robotics. We are excited that the market has embraced our vision of education through play and we are energized to bring smart gaming and STREAM lessons to kids of all ages."

Ozobot charmed again in its return visit to CES this year, taking home a KAPi award for "Best Robot" during the Kids @ Play Summit during the show. KAPi awards honor children's technology products that raise the bar for innovation and excellence and make the world a better place for children. The winners are selected by a panel of jurors, consisting of respected publishers, editors and analysts from various media outlets. Ozobot Bit took home two awards of its own this year, lauded in USA Today by Reviewed.com's editorial team as a CES Editors' Choice Award. Bit also won a Tech Times Innovation Award, which are selected using a range of criteria, from artistic design to innovative features to leading-edge approaches in user interfaces to breakthrough functionality. Finally, the awards and praise show no sign of stopping for Ozobot, which is a finalist for a Toy of the Year (TOTY) award in the Most Innovative Toy category. The TOTY awards are the Toy Industry Association's "Oscars," the winners of which will be announced in February 2015 at Toy Fair.

Ozobot's genius is in its ability to read different colors and flashing colored lights on game boards, paper, tablets and smartphones. When Ozobot sees certain patterns of colors (red-black-red, green-blue-green, and so on), it recognizes them as a code that translates into a specific action such as slow down, speed up, turn left or stop. This sets kids up to learn the basic programming fundamentals that will prove to be invaluable in their future. However, Ozobot isn't just a learning device, the play value baked into this little $49.99 device is truly as expansive as the user's imagination. With an almost endless variety of color and light recognition, Ozobot can be programmed to follow paths of mazes, tracks and playgrounds that the user creates. Ozobot is finally that something that thrills emerging geeks, artists, grownup techies and luxury lovers alike. Visit the company's website at Ozobot.com.

ABOUT EVOLLVE, INC.

Evollve Inc. is a company built around the idea that blends physical and digital technologies to entertain, educate and socially interact while focusing on instilling valuable life skills. Through game applications and creative curriculum, our focus is to introduce interactive robots to entertain in the family room and educate in the classroom.

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