MOD Devices Launches Crowdcube Campaign
MOD Devices, the audio-tech innovator based in Berlin, has announced the kick-off of a new fundraising campaign. Following the recent launch of the Duo X stand-alone audio processor to global retail and the successful Kickstarter campaign of the MOD Dwarf, MOD Devices now looks to grow its investment capital and spread the reach of its forward-thinking tools for musicians.
On September 24th the campaign goes live on Crowdcube, allowing investors from all over Europe to acquire shares from the company. MOD Devices is on a mission to create a world where everyone has universal access to quality music-making tools. MOD is revolutionizing the global music equipment market by developing smart audio devices that replace fragile computers and cumbersome effects setups that musicians use to record and perform.
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After having quadrupled its revenue from 2017 to 2019 – 2019 rev € 178K, EBITDA (-€449K), the company has managed to grow sales by 102% in the first half of 2020 over the same period of 2019. MOD now prepares to enter 2021 addressing a larger market segment with its entry-level product, funded in less than 24 hours on Kickstarter. (Source MOD Devices)
MOD Devices creates all-in-one electronics that improves the lives of forward-thinking musicians. Operating in the $17.5bn+ music-equip market and backed by investment fund Leansquare, Crowdcube funds will allow for the development of core-markets through PR, branding, and communications.
- Sold in more than 20 countries, now starting to scale up on core-markets
- Successful Kickstarter for an entry-level product funded in 24 hours
- Prolific development – Over 400 software applications released.
- Effects market on the rise – primary segment with CAGR of 10% since 2017
Successfully funded within twenty-four hours with a Kickstarter campaign, The MOD Dwarf joins the MOD Duo X flagship processor to the market. They offer all the flexibility of a computer, with the convenience and toughness of a standalone device in a compact, gig friendly footprint. To be released early 2021, the Dwarf’s entry-level price positions it as an extremely flexible must-have tool available without long term planning. Utilizing a powerful processor and extensive patching capabilities, it is suitable for professionals to use as their set up brains, yet affordable enough for beginners starting out on their musical path. MOD Devices’ tailor-made design and UX has captivated an audience eager for innovation and has been celebrated by major media and influencers alike.
MOD users have access to more than four hundred free and commercial plugins at the MOD Plugin Shop, created by independent and renowned developers, All the plugins can be combined with unmatched flexibility using a visual interface that allows the user to create digital versions of every sort of music equipment. All the creations can be saved, uploaded to the cloud, and used anytime without the necessity of a computer. Supported by a strong open-source community, the gallery is always growing according to its long-tail business model.
“Our products are developed to solve real musicians’ problems, not to beat demands coming from specific market categories. We create a box musicians can open to achieve their sonic ambitions, whatever they are – first with the MOD Duo and Duo X and now with the Dwarf, for a more hands-on approach for a great price. We are thrilled to share our world with the Crowdcube community.” Says Gianfranco Ceccolini, MOD Chief Executive Officer and Founder.
All figures and financial informations and guidelines are provided by MOD Devices