Novint Gets $5.2MM Investment for 3D Peripherals

Novint Technologies, Inc., makers of 3D-focused, haptic Novint Falcon controller, announced yesterday the close of a $5.2 million round of unsecured debt financing at a 7% interest rate, convertible to Novint's common stock at a fixed conversion price of $1.00/share. Although there's been a fair amount of interest in using 3D touch devices like Novint's in virtual worlds like Second Life and Croquet, the money is targeted at adding big title video games to Novint's roster. There has been a rising interest in creating better interfaces for virtual worlds, but it looks like Novint, at least, is still seeing games and entertainment as the major revenue generators.

"We saw a lot of interest on this round given how compelling closing on AAA titles is, which is one of the primary uses of proceeds,"  Novint CEO Tom Anderson said in a statement. "Closing on AAA titles is the single most important key to our success right now, both in driving Falcon sales and in creating high-margin revenue on game sales, and Novint is excelling in that area."