Sphero, a US-based smart toy developer backed by media and entertainment group Walt Disney Company, has received $12m in funding from unnamed investors, TechCrunch reported yesterday.
The round is expected to achieve a final close of $20m.
Founded in 2010 as Orbotix, Sphero has produced spherical connected toys that can be controlled through a smartphone app. Its flagship product is a toy version of BB-8, a character in the latest Star Wars trilogy.
The company added additional toys based on characters owned by Disney, such as Lightning McQueen from animated film franchise Cars, but sales were disappointing and Sphero was forced to lay off dozens of staff earlier this year.
Sphero will use the latest funding to shift its focus on creating educational products.
The company previously obtained $23.8m in April 2017 from undisclosed backers, putting its total funding at approximately $119m.
Mercato Partners had led a $45m series E round in 2015 that included a Disney subsidiary and reportedly also Foundry Group.
Shea Ventures, the corporate venturing unit of property developer JF Shea, is also a shareholder, having participated in a $15.5m series D round in 2014 together with Foundry Group and Grishin Robotics.
Sphero had previously participated in the Disney Accelerator, powered by Techstars, in 2014.