Dad and son raised $39 million on a cube console
Sava Osipov came up with an epic idea when he was 12 years old. He made up a game console that looked like a Rubik’s Cube with video screens on its edges. His dad, Ilya Osipov, decided to translate the idea into reality, which subsequently brought incredible income to them.
How it began
In the 2010-s Osipov tried to teach his son to program. However, Savva was not really interested. Then, dad bought electronic constructors and noticed that his son was more involved. They both started to participate in Hackothon. Though they did not win, experts and other participants were impressed.
Once Ilya Osipov suggested creating mini modules with a battery, processor, power system, screen, and sensors. Sava made up something more interesting: a gaming console in the shape of Rubik’s cube. It was supposed to have screens on all its edges so that characters could run crossing them. Ilya realized that such idea was not patented. Therefore, it was going to be something brand-new.
The Osipov’s family tried to print a working prototype 64 times. In the meantime, Ilya created a simple demo game on the basis of Digger. He registered the company in 2017. At the pre-seed the project raised investments from business angels amounting to $520,000.
In 2018 Osipov began to demonstrate the console at different exhibitions and conferences. Besides Maker Faire exhibition, Ilya and Sava took part in Silicon Valley Open Doors. Sava presented the project, though he was only 14. WowCube was recognized as the best startup.
At the seed round the company attracted $1,4 million from business angels. These funds helped develop an operational system for IOS and Android apps and devices.
What is it now
The current WowCube is a Rubik’s cube with 14 screens. The device allows to download 24 games and apps. The cube holds a charge for 3,5 hours and is charged via a base station.
In September 2021 WowCube raised $4,5 million at the A round. Such venture funds as Dobro Capital, Starta Capital, and Invest-Fest Network VC invested in the project. Hand of Midas invested the biggest sum - $1,5 million. Investors appraised the startup at $25 million.
Osipov is intended to enter a mass market in 2022. Distributors are actively interested in the product, because it’s simple and available. However, WowCube has debatable prospects due to the specificity of the console. The ecosystem of the startup is expected to work as soon as it reaches 1 million buyers.