NEW YORK, NY--(Marketwired - Dec 8, 2016) - The Glimpse Group, Inc. (the "Company") a holding company for a diversified portfolio of Virtual Reality ("VR") and Augmented Reality ("AR") start-ups, today announced that it has launched the next phase of its funding strategy, a Series A round of financing through which it will seek to raise between $2 and $2.5 million, with a maximum raise of $5 million. Proceeds from the Series A round will be used for research and development, costs related to going public and for general working capital purposes.
"The Series A financing builds on the tremendous progress we have made this year," said Glimpse President and Chief Executive Officer Lyron Bentovim. Mr. Bentovim continued, "Over the last few months, we have reached significant milestones across our financial, management and operational fronts. We have on-boarded five subsidiaries and will be looking to add five more in the coming months as we lay the foundation for our next financial objective, which is expected to be a Regulation A+ initial public offering during 2017. We're enthusiastic about the opportunities in the Virtual and Augmented reality segments and believe that our unique approach to investment and diversification will yield strong results for our shareholders and entrepreneurs."
About The Glimpse Group, Inc.
The Glimpse Group is a company designed with the specific purpose of cultivating entrepreneurs in the VR and AR industry. Our unique business model simplifies the many challenges faced by entrepreneurs while simultaneously providing investors with an opportunity to invest directly into the emerging VR/AR space. The Glimpse Group funds, cultivates, and manages business operations while providing a strong network of professional relationships. Being a part of the Glimpse Group allows entrepreneurs to maximize their time and resources in pursuit of their mission-critical endeavors. For more information on The Glimpse Group, visit www.theglimpsegroup.com.
Safe Harbor Statement
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