Dublin Kickstarter success The Zone DPMX powermeter, as developed by the Brim Brothers, has issued a statement saying that it has run out of funds and as a result cannot issue a refund to backers.
The statement starts: “Over the last couple of weeks it has become clear that putting an innovative product into manufacture has more challenges than we planned for, particularly achieving the consistent accuracy that a power meter requires. Our first production batch demonstrated that more time and investment is needed to test and re-test new production processes. This is beyond our resources, and our efforts to find new finance have not been successful.”
The wearable power meter originally surpassed its €100,000 kickstarter target by some margin, gaining backing to the tune of €183,133 from just 74 backers. At €390 for a single sided and €780 for a dual, the two-version unit was said to be as simple as fitting new cleats.
Unfortunately for backers, their money is now lost, said the firm.
“What this means for you as a customer is that we can’t deliver your power meter, and we can’t provide a refund. For me personally this is what hurts most, and I wish there was something I could do to change it,” adds Ceo Barry Redmond in the statement.
To read the announcement in full, head here.