Tech Will Save Us raises $4.2M for its tech-focused range of toys, partners with Disney
Tech Will Save Us, the U.K. startup getting kids excited about technology through a range of ‘hackable’ toys, has raised $4.2 million in Series A funding led by Initial Capital. The round also includes Backed VC, SaatchInvest, All Bright, Unltd-inc, and Leaf VC, along with angel investors Chris Lee (co- founder of Media Molecule), Martin McCourt (ex CEO of Dyson) and Jonathan Howell (CTO of Made.com).
The London-based startup says the new capital will be used to expand its product range — which now includes a first partnership with Disney with a Marvel Avengers themed kit inviting children to help superheroes complete secret missions — and to continue its mission to “create a brighter future for kids by encouraging them to create with, rather than be fearful of or passive to, technology”.
Founded by wife and husband duo Bethany Koby and Daniel Hirschmann, over the last four and a half years Tech Will Save Us has developed a range of digital and physical toys that combine play with STEM education to help kids get on the front foot of learning the skills they’ll need in the future. It sells its products direct online and through retailers such as Amazon, John Lewis, Best Buy and Target, and claims to have reached customers in over 97 countries.
“We were just very aware that education doesn’t move fast enough to keep up with technology and it probably never will,” Koby tells me when I ask why her and Hirschmann started the company. “The other thing that really motivated us is having a child. Going into the toy department was actually slightly depressing. It didn’t really feel like there was any motivation around empowering kids with technology that was future-facing, that was about the way the world is unfolding, and in a way that is really creative and fun. It just felt like tech shoved inside of plastic”.
In contrast, the Tech Will Save Us product range is anything but. Covering multiple price points and age groups, the ‘kits’ span electronic dough products, wearables where kids have to program their own games and activities that respond to movement, all the way to gaming devices where kids build their own game consoles and invent and program their own video games. For the first few years of the company’s existence, you would have been hard pressed to find anything quite like it on toy store shelves.
“We’re creating a category, ultimately,” says Koby. “And I think creating a category, in addition to scaling and growing a business — with people, with culture, with all of the beautiful and complicated things that businesses possess — is a challenge, right. Building a category is not the same as just entering a category, and when we started, this category didn’t even exist”.
Fast-forward to today and Tech Will Save Us is benefiting from an aligning of the macro stars, with Koby noting that governments in Europe and the U.S. are pushing STEM education and computer science, and that Target now has a STEM buyer, and Walmart has a STEM section. “The challenge has been riding these macro trends and really building the category, while simultaneously building a product business,” she says.
Reaching kids also means securing buy-in from parents, which has its own challenges from a marketing but also product perspective. “Parents are really fearful of tech. They don’t understand it, they want their kids to be a part of it, they want their kids to understand it, but they themselves are fearful of it,” says Koby. To mitigate this, it was important to design products that ensure parents “are on are that journey too” and can support their kids being creators of technology.
To that end, the tie-in with Disney, in addition to today’s Series A round, feels like a major milestone for the startup. Koby says it came about after someone from Disney bought one of the startup’s products at John Lewis and contacted the company to say they were really excited about the area of STEM. This led to Tech Will Save Us meeting lots of interesting people within Disney and developing a multi-year, multi-product pipeline, launching with Marvel Avengers.
“We’ve not just taken characters and slapped them on a product, we’ve created new experiences,” explains Koby. “Our product is the first for kids to go on secret missions with the Avengers, and solve these secret missions by learning about electronics… with the Incredible Hulk, Captain America, Iron Man, using electronic dough and electronics as part of their problem solving tools to solve these missions”.
Like all of the Tech Will Save Us products, the experience mixes digital and physical, and Koby says there is the capacity to add new missions with different superheroes and different characters from the Avengers, as well as superheroes and missions that kids create.
“I’ve always believed that there is a partnership strategy in our business. We are a play experience business, we’re not a character business, and the beauty of having partnerships like Avengers and Disney is that our goal is to reach as many kids as possible and to help them see that they have the capacity to be creators of technology. But the way we do that is not by necessarily convincing them, it’s by meeting them where they’re at. Leveraging the things that kids already love and using those things to create new experiences and tell stories”.