| [September 10, 2008] |
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ROBOTGALAXY Raises Over $5 Million
NEW YORK --(Business Wire)-- ROBOTGALAXY has announced the closing of over $5 million private placement which will help fuel the company's expansion including the highly anticipated launch of their new virtual ONLINE GALAXY (MMO).
ROBOTGALAXY has revolutionized kids' entertainment retail, allowing young "explorers" to assemble, program and activate their own robots from thousands of combinations. The first two stores opened in the Freehold Raceway Mall, NJ and Palisades Center, NY. The openings went hand in hand with the launch of a comic book series featuring the robot characters and a nationally accessible website and e-store.
Oliver Mitchell, a father of five, thought of the concept after experiencing first hand the frustration of finding nowhere to take his young son in the mall. Mitchell found the perfect partner in friend and retail veteran, Ken Pilot, former President of Gap Brand, and father of three. The two have assembled a team of industry professionals, including executives from Build-a-Bear, Mattel and Starz Entertainment. "This new capital infusion will enable us to continue to deliver on the promise of being the leader of interactive boy-centric play experiences," says Oliver Mitchell, Founder and Chairman of ROBOTGALAXY.
This fall ROBOTGALAXY (RG) will expand its innovative concept into cyberspace, surpassing all kids' web experiences to date, with the release of a new virtual world or ONLINE GALAXY that connects directly to the RG robot. Utilizing a patented robot design, the ONLINE GALAXY will connect the user's personalized robot to the virtual world via a new "Supersonic Fuel Cell" and USB cable. Once connected to the virtual world (MMO), users will enter the "Space Station" where they will be able to go on quests with their robot and battle other online explorers. "Over the past two years we've established a model based on three pillars: retail, entertainment, and online. As we add technology to our product, we will continue to invest in our retail operations as we develop our online Galaxy and build upon our comic book series," states Ken Pilot, Chief Galaxy Officer.
About ROBOTGALAXY(R)
ROBOTGALAXY (RG) is a multifaceted interactive retail experience whereby young "explorers" design and construct a robot of their very own. RG was founded by fathers Oliver Mitchell and Ken Pilot in October of 2007, and currently operates two retail locations in Freehold Raceway Mall in NJ and Palisades Center in NY. A quarterly comic book series stars its robot action figures and introduces young explorers to the RG journey. Explorers can join the growing RG FORCE that interacts online at ROBOTGALAXY.COM. During their journey, kids gain exposure to and knowledge of science, mechanics, robotics, space exploration, computers, and other fields that fascinate them. Each RG retail location houses its very own Seventh Ring, surrounded by the Robot Personality Bar where customers register, name, and program robots at various computer terminals. Each customer is automatically inducted into The Order of the 7th Ring, where they can achieve status by building and collecting all of the Robot Galaxy robots. The retail locations play host to children's birthday parties, robots range in price from $27 - $80. E-commerce is available at www.robotgalaxy.com.
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