Crowdfunding projects sometimes have some failures and mistakes. Even if the crowdfunding project can't guarantee that it will not close down later, there is news that OSSIC is announcing that the company is closing. The company has focused on the production of VR-specific 3D audio headset OSSIC X. In addition, the company said it will not be able to provide support for crowdfunding supporters. The remaining OSSIC X.
OSSIC launched two crowdfunding campaigns in 2016, launched on Kickstarter and Indiegogo, raising $2,708,472 and $3,224,442 respectively. However, it all ended, and the company confirmed in a statement that the company would close its doors after the funds were exhausted.
OSSIC X is an ambitious product that is very expensive.
In January 2017, the San Diego-based startup has received more than 22,000 Ossic X headset pre-orders. It is understood that in January this year, Ossic announced that they have issued the first batch of development-grade headphones worth $900 to 80 supporters. In the same information update, the company said they will enter the “production†phase in the late spring of 2018.
In the end, however, Ossic actually only made 250 pairs of headphones and only sent dozens of products to Kickstarter supporters. The company has already contacted this company for more information. The crowdfunding failure of hardware products is not surprising, but the general reason is that companies cannot obtain additional financing from outside investors. For Ossic, even if they have nearly $6 million in crowdfunding and seed round investments, they still can't start mass production. The company said in its official letter to the official website that it may need more than $2 million in additional funds to deliver existing booking orders.
Supporters are obviously very frustrated that they cannot receive the headset. It is understood that more than 1,200 Facebook users have joined a recently created page and will file a class action lawsuit against the team.
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