Children's AR games dev Osmo raises $24 million funding round from Mattel and Sesame Street

Children's AR game developer Osmo has closed a $24 million funding round to grow its business beyond iPad development.

Funding came from Mattel, Houghton Mifflin Harcourt, Sesame Street-maker Collab+Sesame and Calibrate Partners. Previous investors Upfront Ventures, Accel and K9 Ventures also joined the funding round.

Osmo has currently only developed games for the iPad, but the investment will be used to push into iPhone development and hire up to 30 more people to grow the business.

Ready to scale

"We've gotten very good traction in schools, and we are ready to scale it up in the next year," Pramod Sharma, CEO of Osmo, told VentureBeat.

"This is great validation, but Osmo is in a very early part of a long journey. We have to keep building things that kids love."

Osmo was formerly known as Tangible Play. It raised $12 million in funding back in 2014 from Accel Partners, which has also invested in Supercell and Rovio.