Moby Joins $2.5MM Funding Round for Music Wearable Mictic

Moby Mictic
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Moby Mictic
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Photo Credit: Mictic

Swiss company Mictic has raised $2.5 million in funding for music wearables.

The seed round was funded by PTK Capital and brought on board superstar Moby. The wearable device itself is a pair of wristbands with sensors to determine your movements. The wearables connect to your smartphone, giving users the ability to create music with air gestures. Mictic offers 15 sounds and soundscapes, including several different musical styles and genres.

“People can connect with Ableton, and they can use Mictic the same way they would use any MIDI controller,” says CTO Matthias Frey. “We are also planning to expand our platform business in the very near future. Once the product is out, one of the next steps for users is for them to be able to create their own soundscapes quite easily.”

The Mictic team is made up of 10 people, but it hopes to grow that number. The funding round will be used to enable the company to test its product in the market.

“We really had to bootstrap for a while, and then we built this fundraising round,” CEO Mershad Javan told Digital Music News. “Our next step is to put the product out as soon as possible. We’re proud of it, and we are looking forward to getting a sense of how people are planning to use the product.”

Of course, a $2.5 million funding round won’t be enough to help fulfill everything the company wants to do. It’s enough to get the product in the hands of eager early adopters so they can test it, however.

“As soon as we can actually bring in some key data and business insights, we can continue to grow and probably raise another round of funding fairly quickly after,” Javan continues. Moby’s contribution to the funding round was relatively minor – the superstar contributed less than 10% of that total $2.5 million.

The Mictic wrist bands for a unique take on music creation will be $119 when they become available. The device is available for pre-order on Mictic’s website.

One Response

  1. C3PU

    Sounds like there are some investors just looking for a write-off with this one.