Fresh Capital

LittleBits Raises a $3.65M. Series A to Build Toys That Aren’t Cheap Trash

Too cute. (Via: Littlebits.com)

Local maker-minded startup LittleBits just announced a $3.65 million Series A, led by True Ventures. Also participating were Khosla Ventures, O’Reilly AlphaTech Ventures and Lerer Ventures.

Founder (and MIT Media Lab alum, and TED speaker) Ayah Bdeir told Betabeat that the round will help the company to–pardon the expression–kick it up a notch. “The first phase was really sort of a proof of concept,” she said. The response did not disappoint: LittleBits sold better than expected, “so that we actually now know it’s time to press the peddle.”

The company describes itself as “an open source library of electronic modules that snap together with tiny magnants for prototyping and play.” And what does that mean, precisely? Think wired Erector Sets. Read More

Fresh Capital

Bitly Raises $15 M. Round from Khosla Ventures After Giving Consumers a Reason to Subscribe

Peter Stern

Bitly CEO Peter Stern, who once told Betabeat he’s been in the process of raising funds ever since he joined the company, finally has a milestone to announce. The company has raised a $15 million Series C led by Vinod Khosla at Khosla Ventures.

“[Mr. Kholsa] has been fascinated with the growth of Bitly all along,” Mr. Stern said by phone this afternoon. “Fascinated with this kind of invisible glue that enables people to share in social media and the insight that you can extract from doing that at scale and thinking about what kind of services and products you can offer consumers to grow that set even more.”

Mr. Stern said he has been in contact with Mr. Kholsa for a while. A Series C has been expected since Bitly raised a $1.4 million convertible note in March. Previous investors RRE and OATV also participated in this round. Read More

Do It For Me

New ‘Do It For Me’ Startup Done. Lets You Employ the Apple Guy Down the Street

done

Done. is a New York-based startup that connects regular people with other regular people who are willing to pay them to do things. Things like “plan a party,” “learn something,” “help with my pet,” and our favorite, “help with tech,” because everyone knows the best way to get to know your neighbor is to hit them up for IT support.

Done., which raised almost a million in an oversubscribed round last year from investors including Khosla Ventures, Thrive Capital and angels including Harvard Business School professors Bill Sahlman and Joseph Bower, launched with a team of 12 and 100 “doers,” including Apple consultant Brendan Perreault, who in addition to making slow MacBook Pros fast again has the added bonus of being kind of a stud. Read More