Technology Will Save Us gets £1.2m VC backing
Startups 100-featured DIY education technology start-up will use funding from SaatchInvest to invest in product development
Technology Will Save Us (TWSU), a London-based education technology start-up, has received £1.2m venture capital (VC) funding in a round led by SaatchInvest, with participation from European seed-stage fund Backed and technology investor Stuart Marks.
Founded in 2012 by wife and husband team Bethany Koby and Daniel Hirschmann, the Startups 100 featured company uses hands on technology including a range of tech-based do-it-yourself kits, activities and online resources to encourage learning.
Over 50,000 of the £15 kits have been sold to date, which tap into hobbies such as love, music, gardening, cycling and gaming. It was also responsible for the BBC micro:bit, a pocket sized codeable computer with motion detection, a built-in compass and Bluetooth technology.
The funding will be used to expand TWSU’s product range and build on its existing retail partnerships which includes John Lewis, Urban Outfitters and The Conran Shop.
Koby commented: “Having taught alongside our developing careers, we were both aware of the crisis in technology education. While kids are very much consumers of technology, they typically find computing complex and scary.
“By authentically merging the physical world of making with digital programming tools, we are presenting complex skills in a unique and highly accessible way.”
Leo Castellanos, an investment director at Saatchinvest, said: “The company’s long-term proposition is compelling: to bridge the physical and virtual education worlds engaging children, students their families and teachers.
“Needless to say the market opportunity is absolutely huge. TWSU is one of the few in the global DIY tech space already achieving mainstream adoption with a great presence in retail stores and online alike, in the UK and overseas”.