Raising money and managing investors can be a major undertaking for any startup, but for failed Seattle startup Vicis, the complexity was on a whole other level. The high-tech football helmet maker lists an extraordinary 389 investors on its capitalization table, or “cap table” as it’s commonly known in the business world. The list, never before made public, spans nearly eight pages in King County Superior Court documents unearthed by GeekWire. Vicis was placed into receivership last week by its board after running out of cash. The list includes current and former sports legends such as Aaron Rodgers and Doug… Read More
Seattle startup Vicis officially eliminated the jobs of more than 100 employees on Friday, including its interim CEO, in the latest sign of problems at the high-tech football helmet maker. Previously, the company had furloughed employees, putting a majority of its 110-person staff on temporary leave while its board explored options including a potential sale. But in an employee webinar on Friday, the company informed employees that they are being officially let go, GeekWire has learned. It’s the most significant sign of problems yet at the startup, which has abruptly run out of cash after raising more than $85 million… Read More
Inside the lobby of Vicis‘ headquarters in Seattle this week, floor-to-ceiling images on the walls showed young football players wearing the company’s high-tech helmet. A portrait of former Seattle Seahawks star Doug Baldwin loomed behind a reception desk. The slogan “Protect the Athlete, Elevate the Game” was stenciled next to a lighted display case with two helmets. But it was unusually quiet. Not much work was getting done. That’s because Vicis recently furloughed a majority of its 110-person team, leaving a skeleton crew of 12 employees this week. Now the fate of the company is in the air. The one-time… Read More
Nike has more than 100 styles of men’s running shoes and more than a dozen ways to filter through them on its website. But nowhere in the shoe-buying experience will you be asked to consider one of the most basic running-related questions: How fast do you run? Vimazi is a Seattle-based startup that wants to put that fundamental metric — a runner’s pace — at the center of how it designs and markets running shoes. The startup is in the midst of a seed financing round that could reach $1 million, and the company said it could pursue a Series… Read More
Seattle startup Katalyst has raised $5.6 million for an at-home workout experience that uses full-body electrical muscle stimulation (EMS), a training technique that’s popular in countries such as Germany, Japan and Brazil. The round was led by London-based investor Octopus Ventures, whose partner Jo Oliver sits on the startup’s board. Katalyst’s business model is similar Peloton, the maker of virtual spin classes and fancy stationary bikes that went public in September. Like Peloton, Katalyst will sell high-end hardware and a subscription to on-demand virtual workouts. But instead of guiding you on a bike ride, Katalyst will gently electrocute your muscles… Read More
