Ossic fails to deliver on crowdfunding promise
In 2016, 3D audio company Ossic successfully raised $2.7 million, through Kickstarter. Additionally, they raised another $3.2 million on Indiegogo to develop headphones designed specifically for VR headsets.
Unfortunately, the company has announced that they will be shutting down operations and will be cancelling pre-orders. Ossic has recently posted a message on its website stating,“It is with an extremely heavy heart that we must inform you that OSSIC is shutting down and will be unable to deliver the remaining OSSIC X headphones.”
This means that none of the 22,000 people who have preordered Ossic high-end headset will be receiving the device.
Ossic’s posted a message on its website, informing customers that the company had failed to secure additional investment to bring its flagship high-end 3D headphones the “Ossic X” into full mass production. The company was seeking to raise upwards of another $2 million.
In January, the company announced its Innovator/Developer units would be shipped, but these were originally scheduled to be delivered in 2016. This has angered many customers, who along with the recent announcement, have created a Facebook group threatening a class action lawsuit against the company.
Unfortunately for those customers, most crowdfunding platforms don’t allow refunds, as they view the contributions or preorders as ‘investments’ rather than a guaranteed purchases.
“We will forever be grateful to you and the team members, investors, and business partners who believed in us and helped give our dream a fighting chance,” Ossic concluded.