Last week we let our supporters know that we are moving our delivery date to April 2016. In this update we’re pleased to announce progress in hardware, software and funding.
$3M funding round.
We’re excited to announce that we’ve closed a $3M seed investment from Aviva Ventures, Breed Reply Investments and our early stage investors, adding to the $1.3M investment which came just after Cocoon’s successful Indiegogo campaign. This significant investment will help us deliver our innovative Subsound™ technology and the first stage of our launch plan, complementing the support our early supporters have shown throughout the process of bringing Cocoon to life.
Cocoon is growing!
We’re further expanding Cocoon, and as such we decided to split our development team in two. This allows the software team to grow quickly and focus on areas of the product development which interest them without losing momentum. We welcomed the first of our new team this week, with Ramazan joining the Cocoon mobile team on iOS and we have Mohammed and Robert starting next week!
Over the past year, Cocoon’s team has more than tripled, and we’re still growing, with positions available for smart, dedicated people who want to build and bring something incredible to market.
Ensuring high quality.
As we explained in our October update, during production testing we learned of quality issues associated with the methods that our original manufacturing partner used to create components such as Cocoon’s metal ring. This was unacceptable, and so we had to find a partner who could meet the production quality we expect for Cocoon. Having to go back a few steps in the process has inevitably impacted our delivery schedule.
Solving a problem with location detection.
Our user trial showed that some customer’s smartphones failed to, or have a delay in detecting the user’s arrival home. This can cause Cocoon to generate false alerts. The reliability of your smartphone location data depends on the quality of your GPS and internet connectivity. Sometimes smartphones lose signal, run out of data allowance, or just don’t want to play nicely. We’re confident that we can overcome this challenge, but it will take time.
Ramping up for tooling.
We’ve ordered the moulds for Cocoon’s plastic and metal parts from our new manufacturing partner. There is now 7-8 weeks before the moulds are delivered and we can see the first samples. We’ve also finalised the method of applying fabric to Cocoon, and confirmed the method of making Cocoon’s sonic chamber airtight (which is important for its acoustic properties).