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Vessyl Smartcup Drinks Up $3 Million Investment

vessylSmartcups are a thing now. Sure, there may only be one actual device that calls itself a smartcup: the Vessyl, the brainchild of legendary designer Yves Behar and released by his company Mark One. However, despite its singular nature, the Vessyl is paving the way for a whole new category of connected devices, as evidenced by today’s news that Vessyl is now $3 million richer.

According to a post on TechCrunch, the company has received $3 million in investment funds from two investment firms. The first, Horizons Ventures Ltd., is based out of Hong Kong, and has backed companies like Siri (which was later acquired by Apple), Spotify, and Waze, along with a whole slew of others. The other firm is Palo Alto-based Felicis Ventures, the which has pumped money into its own share of recognizable companies like Rovio (makers of Angry Birds), SoundHound, Bonobos, and Fitbit, among many others.

From what we’ve seen so far, Vessyl seems to be doing just fine with nothing more than a pre-order campaign that managed to raise over $50,000 in two hours of launching. The company even hired an Apple veteran who worked on over a dozen generations of the iPod, and who also has work done on the iPad and iPad Air listed on his resume.

So what will the $3 million go towards? For starters, there’s never a bad time to receive a $3 million investment, so if nothing else, the money could be a sign that Felicis and Horizons want to reap the benefits of the smartcup’s impending success. It’s also entirely possible that an overwhelming number of pre-orders for the Vessyl may have outpaced Mark One’s ability to supply the huge demand. That kind of thing tends to happen with new products that rely on crowdfunding or pre-orders to launch – they become victims of their own success.

Either way, the $3 million investment is a sign that big things are expected of Vessyl. How long until we start to see imitators from other companies?



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