US robotics startup Wonder Workshop raises $20m led by Idea Bulb Ventures

Robotics startup Wonder Workshop, which produces educational toys to teach children how to code, has raised $20 million in a new series B funding round led by WI Harper Group and Idea Bulb Ventures.

Learn Capital, Charles River Ventures, Madrona Venture Group and China’s TCL Corp also participated in the round, which will help Wonder Workshop’s operations reach international markets, with a focus on Asia. The company, with predominant presence in the US, is now expanding into China.

Cross-border investment firm WI Harper Group, Madrona Venture and Charles River Ventures are return investors in the latest round.

Wonder Workshop has proven to be attractive in this targeted Asian market, with the backing of early stage venture capital firm Innovation Works, a major investor in education and artificial intelligence in China and partner of Idea Bulb Ventures.

The company will use the funding to grow its management team, make new product investments and to broaden its network of educators using Wonder Workshop to teach computer science in the classroom, Wonder Workshop said, in a statement.

The startup has  secured $15.9 million in external financing since its inception in 2012.

Wonder Workshop’s Dash and Dot robots are currently used by more than 7,000 elementary schools around the world, a larger part of which come from the US. The figure has jumped three-fold since the beginning of 2016.

The California-based startup’s robots and apps aim to make learning an enjoyable experience among kids as young as six.

“As parents and technologists, we founded Wonder Workshop to make the world a better place for children, and create age appropriate tools to inspire the future innovators,” said Vikas Gupta, co-founder and CEO of the company.

Wonder Workshop has also roped in Monica Hushen, former CFO at uBeam, SoundHawk and Zeepro, as the head of its finance function.

“We led this round of financing because the company creates industry leading products that are loved by children, teachers and parents around the world. This clear product-market fit is complemented by an excellent leadership team, top-tier investors, and influential strategic partners,” said Peter Liu, founder and chairman of WI Harper Group.

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