Invest in Immersed
🥽 Spatial Computing (XR) + 🦾 AI Agent to Supercharge Productivity ⚡️ ($20M raised)
Investment Terms
You will be investing in Immersed through an SPV. This means that when you invest, you will be signing the SPV Subscription Agreement, not the direct investment contract. For more information on SPVs, see here.
- SPV Subscription Agreement - Early Bird
- Early Bird Cooley Go Convertible Note
- SPV Subscription Agreement
- Cooley Go Convertible Note
Financials
We have financial statements ending December 31, 2023. Our cash in hand is $1,589,997, as of January 2025. Over the three months prior, revenues averaged $101,813/month, cost of goods sold has averaged $11,741/month, and operational expenses have averaged $594,569/month.
At a Glance
Jan 1 – Dec 31, 2023




You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
Overview
Immersed enhances enterprise productivity through spatial computing software, mixed reality hardware, and artificial intelligence solutions.
Milestones
Immersed Inc. was incorporated in the State of Delaware in January 2017.
Since then, we have:
- Released Curator, your AI computer-using agent. More @ Visor.com/curator.
- Built Visor: higher-res than Apple Vision Pro, 70% lighter, & 70% cheaper. More @ Visor.com.
- 1.4 Billion+ views on social media ($0 ad-spend); 1.3M YT subscribers
- Users spent over 1,600 years in the Immersed app (40-60hrs/week in headset).
- Raised ️️️$19M to date; ~$7M revenue to date; $71M projected revenue in Visor’s 1st year (not guaranteed).
- Partnered with Qualcomm, Pegatron, & BOE to ship premium work-focused Visor.
- Seen on: Time, The New Yorker, Forbes, Fortune, Yahoo Finance, Bloomberg TV, etc.️
- Visor & Curator AI are both patent pending.
- 5,000+ investors to date.
Historical Results of Operations
- Revenues & Gross Margin. For the period ended December 31, 2023, the Company had revenues of $220,413 compared to the year ended December 31, 2022, when the Company had revenues of $323,077 due to sunsetting legacy subscription model and pivoting to a new product.
- Assets. As of December 31, 2023, the Company had total assets of $3,208,152, including $1,589,997 in cash. As of December 31, 2022, the Company had $3,801,739 in total assets, including $2,491,953 in cash.
- Net Loss. The Company has had net losses of $5,307,684 and net losses of $5,953,404 for the fiscal years ended December 31, 2023 and December 31, 2022, respectively.
- Liabilities. The Company's liabilities totaled $3,128,785 for the fiscal year ended December 31, 2023 and $1,605,973 for the fiscal year ended December 31, 2022.
Refer to Question 26 of this Form C for disclosure of all related party transactions.
Liquidity & Capital Resources
To-date, the company has been financed with $976,256 in debt, $11,288,144 in equity, $6,504,300 in convertibles, and $50,000 in SAFEs.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 18 months before we need to raise further capital.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 6 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
Immersed Inc. cash in hand is $1,589,997, as of January 2025. Over the last three months, revenues have averaged $101,813.27/month, cost of goods sold has averaged $11,741/month, and operational expenses have averaged $594,569.30/month, for an average burn rate of $504,497.03 per month. Our intent is to be profitable in 9 months.
We have completed the development of the Visor headset and moved toward shipping it to customers. We are now launching (as of the campaign) our paid beta of Curator AI (computer-using AI agent).
In 6 months, we expect to ship 31,300 Visors (75k people currently on the waitlist) and generate $22.6M in revenues between shipped Visors, Pro Mode subscriptions, and Curator AI subscriptions. We also expect to have $5.5M in deferred revenue, and $26.1M in expenses as we get Visor to mass production and ramp up our Curator and Visor teams.
We are not yet profitable. If we raise $5M in this offering, we believe we could be profitable by end of Summer 2025.
We can rely on the cash on hand, the revenue we're currently making, and the funds made from this campaign to cover short-term operations.
All projections in the above narrative are forward-looking and not guaranteed.
Risks
The long-term success of Immersed will depend on the tech giants continuing to spend billions of dollars into research and development for the next generation of computing devices (VR headsets or AR glasses). We believe it is inevitable, but this is still technically an assumption.
Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
Other Disclosures
The Board of Directors
Director | Occupation | Joined |
---|---|---|
Renji Bijoy | CEO @ Immersed Inc. | 2017 |
Officers
Officer | Title | Joined |
---|---|---|
Renji Bijoy | CEO | 2017 |
Voting Power
Holder | Securities Held | Power |
---|---|---|
Renji Bijoy | 4,000,000 Common Shares | 28.3% |
Past Fundraises
Date | Security | Amount |
---|---|---|
Current | Convertible Note | $712,257 |
1/2025 | Convertible Note | $50,000 |
11/2024 | Convertible Note | $1,000,000 |
10/2024 | Loan | $88,300 |
9/2024 | Loan | $75,000 |
8/2024 | Convertible Note | $1,724,300 |
7/2024 | Convertible Note | $425,000 |
7/2024 | Loan | $420,000 |
7/2024 | Convertible Note | $1,000,000 |
5/2024 | Loan | $67,600 |
3/2024 | Loan | $270,000 |
9/2023 | Priced Round | $2,999,917 |
8/2023 | Convertible Note | $450,000 |
5/2021 | Priced Round | $99,997 |
4/2021 | Priced Round | $3,708,749 |
4/2021 | Priced Round | $3,775,965 |
3/2021 | SAFE | $653,516 |
10/2020 | Convertible Note | $200,000 |
8/2020 | SAFE | $1,070,000 |
5/2020 | SAFE | $50,000 |
4/2020 | Convertible Note | $950,000 |
4/2020 | Loan | $55,356 |
10/2018 | Convertible Note | $265,000 |
11/2017 | Convertible Note | $340,000 |
7/2017 | Convertible Note | $100,000 |
6/2017 | Priced Round | $20,000 |
1/2017 | Convertible Note | $50,000 |
Convertible Notes Outstanding
Issued | Amount | Valuation Cap | Maturity |
8/31/23 |
$450,000
|
$150,000,000 | 8/31/25 |
7/10/24 |
$1,000,000
|
$150,000,000 | 5/23/27 |
7/31/24 |
$425,000
|
$150,000,000 | 5/22/27 |
8/31/24 |
$1,724,300
|
$150,000,000 | 7/30/26 |
11/26/24 |
$1,000,000
|
$150,000,000 | 11/26/27 |
1/30/25 |
$50,000
|
$150,000,000 | 5/22/27 |
Outstanding Debts
Issued | Lender | Outstanding | Maturity |
---|---|---|---|
3/31/24 | Shopify Capital Inc. |
$85,995
|
9/10/25 |
7/15/24 | Working Capital |
$193,916
|
7/11/25 |
9/16/24 | Shopify Capital Inc. |
$84,750
|
3/16/26 |
10/21/24 | Stripe Servicing, Inc. |
$47,150
|
4/14/26 |
Related Party Transactions
Use of Funds
$100,000 | 6.5% towards Wefunder intermediary fee, 93.5% towards hiring and operations |
---|---|
$5,000,000 | 6.5% towards Wefunder intermediary fee, 93.5% towards hiring and operations (focus on hiring for products that monetize).Raising our maximum target will allow us to hire a larger AI team, create additional accessories for Visor 1, and build out the team for Visor 2. |
Capital Structure
Class of Security | Securities (or Amount) Authorized | Securities (or Amount) Outstanding | Voting Rights |
---|---|---|---|
Series 1 Preferred Stock | 8,950,000 | 8,315,264 | Yes |
Common Stock | 33,000,000 | 5,821,712 | Yes |
The Funding Portal
Immersed is conducting a Regulation Crowdfunding offering via Wefunder Portal LLC. CRD Number: #283503.Form C Filing on EDGAR
The Securities and Exchange Commission hosts the official Form C on their EDGAR web site.