Additional $10 Million Raised For Top Performing Football Helmet Company
Football helmet manufacturer VICIS, Inc. has raised another $10 million, bringing the total amount of funds received to $40 million as it prepares to sell its product to consumers. The announcement of a new $10 million raise comes in very close proximity to a round of funding as part of a convertible note, closed in April by the Seattle-based company.
VICIS hopes to finally be in a position to put its product in the hands of consumers after almost four years of planning for a commercial release.
More than twenty-five investors joined together in the new funding round that was led by Harry Fath, real estate developer and minority owner of the Cincinnati Reds. A push for more funding was promoted by the fact that many professional football players have been using VICIS' ZERO1 helmet during organized team activities (OTAs).
"Initial feedback and player adoption of the ZERO1 has been exceptional, with some of the NFL’s best players wearing the helmet during OTAs," said VICIS CEO Dave Marver. "The latest funding allows us to continue investing in technologies that will protect athletes and elevate their performance."
The ZERO1 football helmet boasts of multiple layers intended to slow impact forces and mitigate collisions from multiple directions. It recently received the top score in an NFL/NFL Players Association Helmet Laboratory Performance Testing program, wherein independent biochemical experts were tasked with determining which helmets are best at reducing overall head impact severity. The ZERO1 performed better than thirty-two different helmets, including those provided by popular manufacturers Riddell, Schutt and Xenith.
"I would suggest it’s the most extensively tested helmet in history," said Marver. "It is very different. Traditional helmets are all designed the same, with a solid inner shell. Ours does deform and can withstand thousands of impacts. It’s a more sophisticated design."