Segway, the maker of the high-tech scooter-like self-balancing vehicles, has raised $10.12 million of a planned $20 million third round of capital, according to a regulatory filing cited by PEhub.
When it launched, the Segway was hyped as the next new thing. But it failed to meet expectations. The company has had a topsy-turvy ride — getting banned in various public places, and recalled for technical problems. On the other hand, just enough people are buying the Segway (more than 23,000, as of Sept.) to keep the interest of investors.
It has already swallowed $126 million. Backers in the latest round apparently include Kleiner Perkins, CSFB Private Equity and buyout firm Duff, Ackerman & Goodrich, however we’ve reported on enough of these vague regulatory filings to know they are often misleading (we’ll update, if necessary).
The Bedford, N.H.-based company founded by inventor Dean Kamen has sophisticated gyroscopic technology, and slick design. Hopes are that its future models, including the four-wheel centaur (pictured here), will do better.
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Steve Leung said:
While the Segway has always been one of those in-between inventions, I hope it brings attention to Dean Kamen’s “Don’t Call It a Wheelchair” IBOT. It can go up-and-down stairs and allows people with limited mobility to go places where people would normally need to walk — and lets users talk to people at eye level. Amazing.
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Segway ups third funding to $35M — have you bought yours yet? » VentureBeat said:
[...] firm has also survived thus far, and appears to be expanding the $10 million third round of funding we reported in January, according to a filing dug up by VentureWire. Segway’s blessing and curse is its oddball [...]