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This isn’t your regular manufacturing development update. In this update, we will talk about the business side of Dygma.
Expect our next manufacturing update next week!
While we’ve been updating you all with the product development of the Raise, we’ve also been working on the business side of the company, specifically our fundraising.
Luis had been spending most of his time preparing a fundraising round and finding investors for Dygma.
This was no easy task, finding startup investors is a long process. You need to have a crystal clear vision for your company and be able to communicate it. You start by creating your investor pitch deck and a financial document, present that to the investors, and eventually find someone that is willing to invest and that culturally fits with the company you envision. Having an investor that doesn’t fit could potentially be problematic in the future, so you don’t want to accept any investor.
After months working on the round, two awesome investors have invested in Dygma. One has a background in international manufacturing and the other has created animation, tech and video game companies and is also a casual gamer. Wooohooo!
They believe our company has potential. They see how much attention to detail we have given to creating the Raise and how we communicate to our community. So they are not only investing in the Raise but also in our vision. We’re very fortunate that we found the right people who want to financially help our company grow.
Truth to be told, business-wise the last year was a struggle. We were tight on a budget because all the delays made us spend more money than we planned. Every time we made a change in a component or sent components back and forth to China, that was an extra cost. Creating PCBs usually takes a week. And we modified the PCBs numerous times. Also, the pre-certification process, redoing the PCBs, hiring consultants, booking the labs, etc., cost a fortune. On top of that, every month we delay shipment means that we have to pay another month of salaries. And all this without a product. It’s been really tough.
Finally, we can focus less on surviving and more on growing the business. Now that we have the investment, we can plan on creating more products and expanding our team.
We are potentially looking for 5 positions:
The reason we are posting this announcement first in our update is that we would love to have backers in our team. You guys have already shown interest in our project. You’ve seen us grow, you already know what we’ve been through, and you know us!
Next week, we will share more details of the job openings but if you are interested, please send us an email at email@example.com. We can send you more info then.
Our plan is to create a new category called performance peripherals. These products will be similar to gaming peripherals since that is our target market, but they will also be designed for ergonomics - both in hardware and software. So you can expect more products coming from our side :)
So that’s a little snippet of our business plans. We will keep you updated for more!