Odesa-based Mevics startup that was developing wearable gadget to monitor the posture and daily activities is in the process of winding up. This was informed to Innovation House by several market participants.
The reasons for project closure are undisclosed. Victor Laushtan, Co-founder and CEO at Mevics, could not give his comments referring to arrangements with investors. The company will soon make a formal statement.
Mevics is a small device attached to clothes using the magnet that warns the user in case of spinal curvature. Software engineers Vladyslav Morzhanov and Max Tribunsky were working on this project jointly with Victor Laushtan – all of them are graduates of Odessa National Polytechnic University.
In late 2016 Mevics has secured $500,000 in funding from investment and consulting company UBTower. These funds were steered into gadget redesign and its introduction to Kickstarter crowdfunding platform. In mid-2017 this startup was put on Kickstarter, where it planned to raise $35,000. However, it managed to raise $5,000 only and campaign has stopped.
Mevics has released several versions of device, has developed Android and iOS. apps. Creators of gadget have consulted with doctors. Plans called for extensive testing of device to reveal its additional value for doctors.
In this January Victor Laushtan wrote on his Facebook page that company was experiencing some manufacturing problems. The project team decided to try their hands at outsourcing direction and opened Mevics R&D Studio, while being at the stage of testing and preparatory works. Afterwards, Xenia Filipchuk, Digital Designer, wrote on her Facebook page that she decided to leave Mevics. Vladyslav Morzhanov became Front-end Developer at Steelkiwi Inc.
Victor Laushtan is now dealing with another startup – Selfllery social platform for visual content monetization. He is Chief Business Development Officer there.
On March 05, 2018 Selfllery has announced its ICO and has sold 1,8 million YOU Tokens within two weeks (which is ETH 1,800). ICO period will end in 7 days.