First close initiated by Emergent VR after raising 50% of its $2 million target

An interesting company no one is talking about…yet.
XDATA – February 4th 2015
One investor bought $1 million worth of mezzanine securities from Emergent VR on January 21st. According to the data disclosed, the company expects to raise a total of $2 million via this non-brokered financing. $1 million in additional funding can be raised before January 2016 based on the placement’s structure. Unregistered securities don’t appear to have been previously sold by the company.
Emergent VR develops a social network application to create, edit and share 360 virtual reality (VR) experiences with the world using mobile phones, in other words the company develops the Instagram of VR. The company is backed by River the VR accelerator of Rothenberg Venture.
The company, headquartered in San Jose CA, was registered this year. Revenues remained undisclosed.
The executive team includes Chris Wheeler and Peter Wilkins.
Offering recap
Status: First close
Company: Emergent VR
Industry: Computers
Amount offered: $2 million
Amount placed: $1 million
SEC filing: Source
First sale: 01-21-2015
Data as of: 02-04-2015

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