Just months after dozens of layoffs, Boulder-based robotics builder Sphero Inc. has raised more than $12 million in new funding from investors.
That funding came through an equity offering, according to documents filed this month with the U.S. Securities and Exchange Commission. Those SEC filings show the first date of sale was May 25.
More investor funding for the company — best known as the maker of the BB-8 droid and other "Star Wars" toys — is expected to be forthcoming.
"The recent round of funding has currently raised $12 million, and we anticipate at the time of final closing up to $20 million may be raised in total," Sphero senior director of marketing Nick Delyani said in a statement.
An SEC regulatory form confirms the company's intent to raise $20 million through equity offerings.
Crunchbase, which records data related to startup investment, shows Sphero has raised $119.5 million since its launch in 2010.
"Funding has (and) will come from existing and new investors and will be used for working capital as we engage in a larger strategy that focuses on the intersection of play and learning," Delyani said.
The company emphasized its ongoing pivot toward educational products and content around the same time 45 employees were laid off in January.
The layoffs impacted all of the company's departments, a Sphero spokeswoman said at the time the staffing cuts were announced. Most of the jobs were lost at the Boulder headquarters, but operations in Hong Kong and the United Kingdom were also affected.
It's unclear whether this recent fundraising effort will result in increased hiring. A company spokeswoman did not immediately respond to a question about staffing levels.
Sphero, originally named Orbotix, launched from Boulder-based accelerator TechStars. The company rose to fame when Disney tapped it to create the toys for the rebooted "Star Wars" franchise. Sphero's partnership with Disney expanded and the company began producing toys and robots based on Pixar and Marvel characters.
The BB-8 toys flew off shelves initially, but the L.A. Times reported earlier this year that 2017 holiday sales for "Star Wars" toys slowed considerably compared with 2016.
In contrast, Sphero's educational products — programmable robots that help teach coding skills — have seen steady growth.
TechCrunch, which first reported Sphero's January layoffs earlier this year, quoted a company spokesperson as saying the educational robotics space is "something we can actually own."
Lucas High: 303-684-5310, lhigh@times-call.com