We told you about a cool, futuristic, talking bear a bit ago, and apparently we weren’t the only ones blown away by it. Today, Venturebeat and The Next Web reported that ToyTalk has raised $11.5M from Charles Rivers Ventures to bring this product, and more, to market.
There are quite a few reasons why this company is fascinating, one of them being that the founder, Oren Jacob, is a former Pixar executive that worked on Finding Nemo and Toy Story 2. In fact, Toy Story 2 almost didn’t make it to the screen. Read why here.
In addition to the new funding from Charles Rivers Ventures, the company has also raised $4.5M from True Ventures, First Round Capital, Greylock Partners and angel investors. With $16M in total to spend, this company is going to do some amazing things.
Its CTO, Martin Reddy, worked for SRI, which went to work on SIRI after he left, which is artificial intelligence at its best, according to some. Well, namely a little company called Apple.
ToyTalk is more than just a stuffed bear speaking to children through an iPad, its exploring a new world of interactivity that could achieve some amazing things, educate children and help those with learning disabilities. By using artificial intelligence along with toys, some amazing technology will be seen as “seamless”, thus making the impressive technology disappear. As great tech always does.
I’m excited about them, and I honestly think you should be too. If you missed the original teaser video, check it out. Or if you already saw it, watch again. It’s that good.
ToyTalk is a family entertainment company. Their mission is to create entertainment powered by characters and conversation.
Founded in 1970, Charles River Ventures is an early-stage venture capital fund that takes a value-added, hands-on approach to support its portfolio companies. Charles River Ventures is one of the nation’s oldest and most successful early-stage venture capital firms with approximately $2.1 billion under management. CRV is dedicated to helping exceptional entrepreneurs turn their ideas into the next category leaders in high growth technology and media sectors. Since its founding in 1970, CRV funds have been ranked among the industry’s...