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$55 million for toy cars? Smartphone toy co Anki picks up major funding

$55 million for toy cars? Smartphone toy co Anki picks up major funding

September 26, 2014 | By Christian Nutt




Newsbrief: San Francisco-based Anki, whose iOS-based Drive product turns a smartphone into a controller for real-life remote-controlled toy cars, has pocketed $55 million in venture funding in a new round led by J.P. Morgan, Re/code reports -- bringing its total funding to $105 million.

Its starter kit, which works only with iOS -- Android is on the way later in the year -- costs $150. Extra remote-controlled cars go for $69.99 a pop, while tracks cost $99.99. The cars operate on game-like logic, thanks to the attached smartphone app.

Anki plans to to use the money to expand on Drive but also, potentially, to move beyond the car space with new products. The company also recently recruited EA and Activision vets, including Joby Otero, who helped create the Skylanders franchise, to "help turn Drive into an entertainment franchise," Re/code reports.


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