Kano raises $15m for launch of new computer kit
Series A round involved Breyer Capital, the Collaborative Fund and economist Jim O’Neill
‘Build it yourself’ computer company Kano, founded by Young Guns to Watch Alex Klein and Yonatan Raz-Fridman, has secured $15m Series A investment in a deal led by Breyer Capital to support the launch of its new product extension.
The Collaborative Fund and Jim O’Neill, the British economist who recently said that the UK “needs immigrants to drive growth”, also participated in the round. The tech start-up will also look to raise $500,000 of its new round via equity crowdfunding platform Quire.
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Launched in 2013, Kano’s technology enables children to build a computer from scratch which using simple steps and creative tools.
The funding comes as the tech start-up unveiled the launch of the new version of its kit which is powered by the Raspberry Pi 2 and said to be six times faster than its original kit. It has also recently introduced the Powerup Kit; an extension pack which turns the Raspberry Pi 1 into a programmable lightshow.
It now intends to use the multi-million funding round to develop its platform and scale the business in the UK, US and new markets.
Kano co-founder and chief executive, Yonatan Raz-Fridman, commented: “Together with our passionate team and strong support network of investors and advisors, we are committed to Kano’s mission, and look forward to adding ambitious new team members and strong partners from all over the world to help.”
Jim Breyer, founder and CEO of Breyer Capital, said of the investment:
“The global opportunity for Kano, and the opportunity to make a meaningful difference in the lives of young people around the world, is enormous. I am proud to support Kano at this exciting time in the company’s development.”