Entertainment engineering collective Two Bit Circus – a "modern high-tech circus creating the future of fun" – announced yesterday (28 October) that it’s won a US$6.5m (€5.9m, £4.3m) investment from a trio of venture capital groups.

The funding will mainly be used to grow the company's STEAM Carnival initiative into a national brand. STEAM Carnival is a touring pop-up-style event that gets kids to engage with science, technology, engineering, art and maths in a project-based, hands-on way in a fun environment. The investment is coming from Techstars Ventures and Foundry Group, with additional funding from Intel Capital.

Los Angeles, California-based Two Bit Circus was founded in 2012 by Brent Bushnell and Eric Gradman, who wanted to create a positive narrative around the STEM (science, technology, engineering, and mathematics) subjects. Two Bit Circus aims to bring the exciting side of engineering and technology to life for a younger generation, inspiring them with lasers, robots, interactivity and gamification – which are all part of the storytelling and amusement industry – and to "convert non-STEM kids into STEM kids".

"We're thrilled to be working with such great partners to bring our crazy circus to a broader audience," said Brent Bushnell, CEO and co-founder of Two Bit Circus.

The first STEAM Carnival took place in an LA warehouse in October 2014, and has gone from strength to strength. Some of the cash injection will be used to produce original content for VR, mobile and web and the company also plans to develop its events portfolio, when businesses can hire a high-tech, story-led "arcade roadshow" as interactive entertainment for conferences and parties.

"Our investment will help Two Bit Circus capitalise on the demand for their unique entertainment and accelerate the company's pace of product innovation and growth," said Ryan McIntyre, managing director and co-founder at Foundry Group.

The next STEAM Carnival is imminent, being held at San Francisco’s Pier 48 from 6-8 November.

To read an interview with Two Bit Circus CEO Brent Bushnell, see Attractions Management Q4 2014 or click here to read online