Sam Labs, a UK-based internet of things company, has raised £3.2m ($4.6m) from a consortium led by Imperial Innovations, the investment firm of Imperial College London.
Imperial Innovations focuses on technology spinouts based in the golden triangle, a region bounded by London, Cambridge and Oxford. The firm invested £2m and was joined by a range of unnamed investors.
Sam Labs creates construction kits for children aged seven and upwards to introduce them to computer coding, construction and the internet of things. The company was formed by engineers from Imperial College London and designers from Royal College of Art.
In 2014, the company held a successful crowdfunding campaign that raised more than £125,000.
Joachim Horn, chief executive and founder of Sam Labs, said: “It is amazing to have Imperial Innovations as our first institutional investor, particularly given their excellent track record in science and engineering.”
Robert Bahns, director technology venture at Imperial Innovations, said: “The Sam Labs wireless construction kits are encouraging young people to take an interest in technology and engineering, which is an issue we feel very passionately about.
“We have always championed UK innovation, particularly in science, technology, engineering and mathematics, and look forward to seeing how these products will enable young people to explore real-world applications.”
