Moxie’s Future Is At Stake Just weeks ago, we believed funding was secure. Now, a sudden investor reversal has left Moxie’s future hanging by a thread—especially heartbreaking as we approach the holidays. Yet, an incredible community response is giving us new hope. For the full story, my personal reflections, and how we might still save Moxie, read the PDF below.
This is really hard news. Moxie is such an incredible product, with the best human-robot interaction I've seen. It must be a team with unique expertise to produce such a product. I hope there will be a way to keep building.
Awful news Paolo. Did you have just a term sheet or did you have executed investments docs? If the latter then are they not binding on the investor? A lawsuit is probably not attractive at this time but I'm wondering what options your counsel might have for you...?
Sad to hear of investor behavior that has put you in this difficult spot. You have your heart in the right place, and have poured years of work into this. I am hoping for the best.
Paolo, this is really sad news! I had to close my company 15 years ago because investors suddenly being out of funds due to the financial crises. Just as we had launched a game with vitual companions. I really hope tou manage to keep Moxie alive.
Rooting for you Paolo Pirjanian, the world needs Moxie in it!
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Thank you for sharing this heartfelt letter Paolo. Lmk if there's anything I can do to help. While not addressing the core funding need, I'd be happy to offer to you and Mario full access to InOrbit.AI for free to support Moxie until the situation is resolved (or as long as needed). If you secure a lead investor, I can connect you with Alumni Ventures which co-invests alongside top-tier VCs and is one of the most active VCs. Sharing here in case anyone in my network can jump in to help.
Sadly this happens more often than we hear about in social media or in the press. Word of advice to entrepreneurs that I learned in a similar (very hard way) years ago going through similar situations more than once - the round isn't done until the money is in the bank! Until then, as an entrepreneur who's trying to make payroll you are still in fundraising mode, even if you have a signed term sheet and a verbal from your lead investor!
Paolo, I think we can help here. Sounds like you have an amazing community that wants to support you and keep Moxie around for their kids. We’re a crowdfunding platform that also has our own investor base of parents who could invest.
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10moThanks for sharing Paolo Pirjanian. This is an excellent opportunity to mobilize this community for a greater outcome. A community led capital raise may be worth exploring