LittleBits received its first funding in the fall of 2011 from a small group of angel investors, including Joi Ito.
“Open source software lowered the costs of innovation for software and Internet services and pushed it from big companies to startups,” said Ito in a release today. “The same thing is now happening in hardware, and littleBits is one of the companies leading the way.”
Prior to the seed round from Ito et al., littleBits’ founding team bootstrapped the product development for three and a half years. The startup is based in Manhattan.