Makible recently reached its third year of business, which is a very happy milestone for us as a startup company. We’ve been through a lot over that time and have been able to keep things moving forward while exploring the space of 3D Printing and small batch manufacturing. The team has been lean and has done a lot with what we have available. Unfortunately, we’ve reached a point where we have needed to gather up additional resources in order to continue growing.
The Makible team have been working very hard to restart production of orders and get shipping again. As shown in March, we are able to ship around 800 boxes a month when everything is in full production. We ran into a classic issue of startup hardware companies of cash flow not matching up, leaving us short of funds to complete shipments.
We did see this event coming and worked hard to line up additional funding to keep things running smoothly, but nothing has been finalized and so we have been building consensus amongst our investors to implement a recovery plan.
We have put in place a more robust operations team, and will be appointing a new board and focusing on getting the outstanding orders shipped before moving on to other things. We are currently working on the fundraising to make this happen.
We have an initial consensus from our stakeholders and we thank them for their support, however we are working to wrap up this plan before we can announce the updated shipping schedule of outstanding orders. We know that it is important to be able to clearly set and follow up on expectations on when this will happen, so we will announce the details as soon as we have them.
We would appreciate the continued support of customers who have placed orders to refrain from cancellations because we have most of your parts in stock so now only need to finish the final assembly and shipping.
The team appreciates that you have given us your trust to deliver product to you in a reasonable time period. We will do everything we can to see that commitment through, and hope that we can regain that trust.
Director, Makible Ltd.