Music Tech Maker Zivix Jams On $1.45m Equity Round

Minneapolis hardware + software venture Zivix has closed on a $1.45m equity round, per SEC disclosure.

Zivix was formed in 2007 by Dan Sullivan to fuse technology with music.  Over the years, they have amassed eight patents, sold thousands of products, partnered with Apple, and matured into a diversified product line:

Jamstik is their first and foremost, combining the playable MIDI device with mobile and web apps for fun and learning. PUC is a peripheral wireless MIDI interface, and AirJamz is a smart pick + app for the true air guitarist.

“We will be conducting a crowdfunding in the spring on two new models, the Jamstik 7 and Jamstik 12,” explains Zivix CEO Ed Cannon, adding:

“Both products have been designed based on customer input to better satisfy the needs for a both a lower price learning device and a high performance model for the serious recording musician. The Jamstik+ continues to be discovered and embraced across the world. One example, we entered Japan last summer and quickly became the #1 Electric Guitar, #1 Electric acoustic guitar along with most wished for and most gifted day after day on Amazon Japan.”

Cannon concludes that the proceeds from this financing round are going towards inventory, manufacturing, certifications and marketing. Both products will be produced in the US with many components sourced in Minnesota.

Zivix is no stranger to success when it comes to crowdfunding: as early as 2013 they were doing it, with ~$175k for their first Jamstik, then in 2015 they sourced $800 grand for the Jamstik+, followed by ~$35k for AirJamz in 2016.

Not counting that ~1m in crowdfunding – Zivix is estimated to have raised a cumulative $11m of investment capital with this latest round.  Zivix has 16 full time, 2 part time employees, and is headquartered at 4150 Olson Memorial Highway, in Minneapolis.

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