OYO Sports Toy Maker Raises $3m funding

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Oyo Sports who are a toy maker has raised $3 million in new seed funding from Boston tech investors, according to Chief Executive Tom Skripps, reports the WSJ.

Oyo sports designs, manufactures and sells “minifigures” of pro-athletes. Its main customers are fans, collectors and kids who want official, licensed gear from of their teams.

Boston Seed Capital and Atlas Venture led this round of funding and this brings total raised to $4.6, back in 2013 the company raised $1.6 from angel investors. See doubters still plenty of market to go after and compete for traditional ish toys/figures and not digital apps etc.

The company has official licensing and merchandising deals with Major League Baseball, the National Football League and National Hockey League among others in the U.S. It plans to expand to include new sports and European leagues given this new additional capital.

Oyo Sports also uses technology, like advanced manufacturing techniques and social media analytics, to promote its toy designs, and produce minifigures of famous players while they are still hot in the eyes of sports fans.