Ossic raises R40m for headphone kickstarter, then shuts down
Ossic is over.
Remember those awesome 3D headphones we reported about in 2016?
The wonderful world of crowdfunding is a means for inventors and start-up companies to secure funds to make their inventions come to life and enter its backers’ lives.
Although not every story is that of success, oftentimes leaving backers’ hands empty and pockets dry.
Such is the case of the demise of Ossic’s high-end 3D sound headphones, which has failed despite having taken tens of thousands of crowdfunding pre-orders and raising $40 million.
The headphones, deemed ‘Ossic X’, was pitched as a pair of high-end head-tracking headphones perfect for listening to 3D audio, especially in a VR environment.
In a letter, the company blame the slow adoption of VR as well as their inability to acquire further funding needed.
Back up your backing
A letter on their website reads:
“This was obviously not our desired outcome. The team worked exceptionally hard and created a production-ready product that is a technological and performance breakthrough. To fail at the 5 yard-line is a tragedy. We are extremely sorry that we cannot deliver your product and want you to know that the team has done everything possible including investing our own savings and working without salary to exhaust all possibilities.”
In January 2018 they shipped out the first units to the 80 backers in the development tier ($999) and believed that mass-production would start in spring 2018.
The result; they only built 250 pairs of headphones and only shipped out a few dozen.
Understandably backers are upset about not receiving the product OR a refund, with a group of more than 1 200 backers having joined a Facebook page threatening a class action lawsuit against the team.
No one can hear as Ossic cries for help, not even with the “Ossic X” headphones…too soon?