What started on in May with the modest goal of attracting $75k in crowdfunding has toppled half a million as of yesterday’s close.
Music technology maker Zivix has achieved $504,772 in total funds raised using Indiegogo, representing 671% of the original target from 1,658 backers for two different products: the Jamstik 7 for beginners and Jamstik 12 for the advanced player.
This is certainly not Zivix first crowdfunding ride. As early as 2013, when the concept was pretty new, they raised $175k for an early iteration of the Jamstik, followed the second largest Minnesota tech crowdfunding campaign to date of $800 grand.
That following year, they brought Air Jamz smart pick to the crowds and gained another $37k win, making this campaign their fourth success and the single largest in Minnesota tech so far this year. The ~1.5m in crowdfunding capital accumulated over those years is non-dilutive and Zivix has previously raised ~$11m from investors, including an equity round just months ago.
The Jamstik 7 retails for $249; the Jamstik 12 for $499; Zivix has shipped more than 30,000 Jamstiks since 2007 inception and has 55 resale locations worldwide as their international distribution is growing fast, particularly in Europe and Asia. The company sources all parts domestically, while the plastics are locally manufactured here in Minnesota near their Minneapolis headquarters which employs an estimated 20 people.