Evollve, Inc. Announces $2 Million in Funding From Series A Round

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Evollve, Inc., is pleased to announce it has completed a Series A round of fund raising over the past 6-8 weeks. The company will receive $2 million to fund full-scale manufacturing and the official retail launch of Ozobot, the company’s first product.

Ozobot works with free Android or iOS apps or plain paper and colored markers

“We are energized and encouraged by the confidence these investors have shown in our business plan, our marketing strategy and our overall brand ramp,” Hamda said.

Evollve, Inc., is pleased to announce it has completed a Series A round of fund raising over the past 6-8 weeks. The company will receive $2 million to fund full-scale manufacturing and the official retail launch of Ozobot, the company’s first product. Most of Evollve’s investors are angel investors, said Nader Hamda, CEO and Founder of the world’s smallest intelligent robot that teaches programing basics in a fun and interactive game setting. The company also plans to commence a Series B round of fundraising soon.

“We are energized and encouraged by the confidence these investors have shown in our business plan, our marketing strategy and our overall brand ramp,” Hamda said. Ozobot’s future looks bright indeed, launched this year at both the Consumer Electronics Show (CES) and the American International Toy Fair, tiny Ozobot managed to charm both the geeks and the toy masters. Winning both Best of CES and Best of Toyfair awards for 2014. USA Today and Popular Science have also named Ozobot one of their Best Tech Toys of Toy Fair.

Ozobot’s genius is in its ability to read different colors and flashing colored lights on game boards, paper and 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. Mix in free Apps on iOS and Android devices to get kids creative juices flowing and you’ve got one truly innovative and adorable little bot.

The bot's futuristic design and 2014 award sweep has landed the hold-in-your-palm toy hot retail accounts for the upcoming launch. Beginning in November you can find Ozobot at retailers like brookstone.com, momastore.org and amazon.com and The Museum of Modern Art (MOMA) Design Store. See more information including special pre-order pricing and availability at http://www.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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Lisa Orman
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