Projects } TBK Capital

Imersia - Pre Offshore Capital Raise - FULLY SUBSCRIBED AND NOW CLOSED

In last month's Opportunities Update we briefly summarised a number of exciting projects now under way and which are seeking capital.

One of these, Imersia Group Limited, is a New Zealand company that has invented a revolutionary and patentable method of distributing digital and immersive gaming technology content to any location without any hardware.

Their team includes CEO Jon Lowther, who has wide ranging international business experience, and Dr Roy Davies, a pioneer in the software fields of virtual and mixed reality.

Now Douglas Paul - a Kiwi with substantial VC raising experience in the U.S. - has recently joined the company as a director and Acting CFO with a view to guiding it through a Bridge financing round and then a Series A capital raising in the new year – probably from the U.S. and Singapore.  

Douglas says “Imersia has been developing a unique software platform over a number of years.  Roy and his team have developed a unique methodology and perspective on how to overly a virtual world on the real world, and how this can be made to interact with people and devices that actually exist in the real world. 

“In doing so, they have also advanced thinking around networking and the use of artificial intelligence.  Much of the thinking has arisen from gaming and how the metaphors of computer games can be brought to life in everyday personal and business activities.

“The implications of their work is potentially profound and perhaps unlimited.”

Imersia has already undertaken several trial projects in New Zealand for commercial customers over the last 18 months. These demonstrate some of the capabilities of the platform in New Zealand, especially around localised and personalised retail marketing and rewards. They include;

• digital games imposed on the real world such as “treasure hunts”,
• an immersive theatre experience, and
• an immersive marae based experience whereby information about the marae is brought to life as people wander around it.

This has led to their “digital Auckland” proposal whereby they are now offering to provide a single platform where various Auckland City agencies can offer a range of interactive, real time digital experiences - some entertainment based and others commercial. 

The really significant opportunity over the next 12 months is to develop and release their mass consumer mobile product which will employ the novel aspects of their platform to create some unique user experiences. Currently named “Firefly” this is their Snapshot or Instagram; but on steroids.

Not too long after they release this product, Imersia will be providing portal access to their own platform.  Then it will be open for others around the world to create and share their own unique perspective on how to combine the virtual and the real, to create new missed reality worlds.

Revenue Streams

Imersia has strategies in place to monetise what they do beyond the Studio work. The models for monetising platforms - regular fees and/or advertising and charging for a share of third party value add products - are well established.  Plus they have other novel ideas of their own for the longer term.

Pre Offshore Capital Raise

The capital raise mentioned in our last newsletter is just their first step in a medium to long term capital strategy.  They have now increased this offer from $400,000 to $1,000,000. The proceeds will be used for patents and trade marks, Firefly stage 1 development and go to market costs, plus working capital for 6 months up to the next Series A round.

To date their small team of developers have largely paid for the product and market development by way of sweat equity.  They are now ready to invite outside investors to join their dream.  This Bridge round will help ready them for a much more substantial round in the New Year - which they presently intend to coincide with the timing of the release of Firefly. 

They have already had approaches from several international investors requesting information on what they are doing and where they want to go.  In the interest of maximising the value in their next round, they will put considerable time and effort into the next “Series A” capital round over the coming months.

The form of this Bridge capital round is convertible notes designed to convert into the same form of equity that they will ultimately issue in the Series A round.  This is because the Series A will probably be a U.S. style preferred share issue and they want to ensure that all the cash investors from this capital raise are treated equally with future cash investors in terms of rights and protections.

They expect the pre-money valuation of Imersia for the Series A round to be up to 4 times the current pre-money valuation for this Bridge round. Investors in this Bridging round of convertible notes will convert at the current pre-money valuation (or any new valuation in the unlikely event that is lower.)

There is no IM for this Bridging round and all qualified enquires will be directed to Douglas Paul who will contact you direct. If you’re interested reply to this email or give me a call. You can always get me on mobile +64 21 902 901.

From interest already committed and received – about half the $1 million sought - this offer will not last long.

The above investment is not an offer of Securities to the Public and is available only to eligible investors as defined by the Securities Act, or those excluded from the Offer provisions of the Securities Act. It is intended for distribution only to selected people to whom, under the relevant laws, it can be lawfully distributed. It cannot be distributed in any other jurisdiction, or to any other people. It is  not an offer or solicitation in any jurisdiction in which such offers or solicitations are not authorised, or in which the person making such offers or solicitations is not qualified to do so, or to any person to whom it is unlawful to make such offers or solicitations. Any representation to the contrary would be unlawful. No action has been taken by any person that would permit a public offering in any jurisdiction where action for that purpose would be required.



John Paine B.Sc., Dip BIA
TBK Capital Limited
Level 15, BDO Building
120 Albert Street
Auckland 1010, New Zealand
Phone +64 9 307 3257
Fax +64 9 309 4519
Mobile +64 21 902 901

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