Dorm room startup Orbit Technologies Inc. raises $500k in oversubscribed pre-seed round to build immersive neurotechnologies for virtual reality.
WASHINGTON, DC / ACCESSWIRE / November 7, 2023 / Orbit Technologies Inc. today announced a round of series pre-seed funding of $500,000 from gaming venture capital firm Dune Ventures.
Orbit co-founder & CEO Steven Pang at the Leonsis Family Entrepreneurship Prize Competition.
"We are excited to be backing Steven and Colton, who we think are incredible founders building important technology," says David Brillembourg, Founder at Dune Ventures.
Described as "amazing," "magical," and "the coolest thing I've ever seen" by early testers, Orbit's new device makes the virtual experience hyperrealistic - verging on indistinguishable from reality.
"We've created something really magical," says Steven Pang, Co-founder and CEO of Orbit. "It's going to change how humans interact with the digital world."
Since being founded by two students in a dorm room at Georgetown University in February 2023, Orbit has built a slew of breakthrough neurostimulation technologies. They have also won over $50,000 at pitch competitions and participated in several of Georgetown University's flagship entrepreneurship programs.
The half million dollars from Dune VC will be used to get their product production ready, gearing for a pre-sale launch in Q2 of 2024.
"Non-invasive consumer neurotech is right around the corner, and most people have no idea," says Colton El-Habr, Co-founder and CTO of Orbit Technologies Inc. "That's really, really cool!"
About Orbit Technologies Inc.: Orbit makes non-invasive brain-computer interfaces to enhance gaming and virtual reality. Their new device sits behind the ears and creates hyper-immersive illusions of movement for gamers by sending electrical signals to the movement centers of their brains.
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Media:
https://wtop.com/business-finance/2023/10/ted-leonsis-donates-5m-to-georgetown-universitys-bark-tank-competition/
https://www.bizjournals.com/washington/inno/stories/news/2023/10/27/ted-leonsis-georgetown-university-bark-tank.html
https://msb.georgetown.edu/news-story/georgetown-entrepreneurs-win-125000-in-prizes-during-annual-bark-tank-pitch-competition/
https://myemail.constantcontact.com/Update-from-Georgetown-Ventures--Pre-Seed-Round--Bark-Tank--and-more.html?soid=1140609002936&aid=Xv1-WqAZ_Xw
https://thehoya.com/bark-tank-winners-take-home-125000-for-their-startups/
Video of the August prototype - integration with Virtual Reality
https://drive.google.com/file/d/1WLfHmviEg4mfL5jKjk8Q4m_-oypjhaf4/view?usp=sharing
Video of a company side project: steering wheels for humans
https://drive.google.com/file/d/1atBkwfF_UYDtNsW03EINbGJUqGybZ1oc/view?resourcekey
Pictures:
https://drive.google.com/drive/folders/1Xid41ejEKdcnqclGlS_xCEHd7lhMc2Ns
Contact Information
Steven Pang
CEO
steven@orbit.engineering
6268189957
SOURCE: Orbit Technologies Inc.
https://www.accesswire.com/800371/orbit-technologies-inc-raises-500k-in-pre-seed-round
