MOD Devices announces Insolvency and ‘Reboot’


MOD Devices – creators of an open hardware effects platform – has announced that it is currently insolvent and is planning a ‘reboot’.


They list losses of more than €1M from founders, another €1M from Investors, €287k from the Seedmatch crowd, and €177k from backers.


They attribute their problems to a combination of the global supply chain issues that have been affecting many manufacturers and a failed crowdsourcing campaign:


“Dear MOD community members


I am sad to announce that MOD Devices GmbH has reached the end of its line.


This is the result of a two-year crisis that started with the COVID impacts on our supply chain in Q2/2020, and the snowball effect of the cash flow disruption triggered by the failure of the Crowdcube campaign in Q4/2020.


During these last 24 months, the founders and shareholders have bridged the finances multiple times in failed attempts to get back on track. But the private cash from shareholders only is not sufficient and, with the worsening of the general economy and growing fear from financial institutions and investors, the remaining financing options have all retreated, forcing me to file the company for insolvency.


It is not the end of MOD though. Not yet.


Part of the founders, team and shareholders believe very much in the project and a reboot is being put in place, with the fundraising for a fresh company.”


Details on their financial issues, reboot plans and how this effects supporters that have not received their units are available at their forum.

Das Keyboard 6 Professional - Begin to enjoy your modern workday.

Dr.Fone V13 One-Stop Complete Mobile Solution

Wondershare RecoveritData Recovery

Great deals on Live Sound and Lighting gear. Microphones, speakers, mixers and more. Fast, free shipping.

Great deals on Recording Gear. Interfaces, headphones, monitors and more. Fast, free shipping.

Great deals on DJ and Production Gear. Fast, free shipping.

Sam Ash Music Flash Deals: Special Discounts on Musical Instruments & Music Studio Gear

Shop Used Musical Instruments, Used Guitars, Used Drums, Used Pianos, Used Pro Audio Gear, Used DJ Equipment

Samson Recording Headphones: Save Up to 70%

TONEX ODS Legends Signature Collection

Up to 56% off Total Studio 4 MAX complete music production software bundle

Black Friday Deal: T-RackS 5 MAX v2 $/€79.99 or SampleTank 4 MAX v2 $/€69.99

Weekly Krazy Deal: TASCAM Tape Collection $/€39.99 or The Farm Studio Reverb $/€29.99

Black Friday Deal: MODO BASS 2 & MODO DRUM 1.5 $/€79.99 each or $/€129.99 for both

Black Friday Deal: TONEX MAX & AmpliTube 5 MAX v2 - $/€79.99 each or $/€129.99 for both

Weekly Krazy Deal: FAME Studio Reverb and Hammond B-3X $/€39.99 each

Pianoverse NY Grand S274

Pianoverse Black Diamond B280

Pianoverse Royal Upright Y5

Pianoverse Concert Grand YF3

UNO Synth true analog synthesizer - ultra-portable and ultra-affordable

iRig HD X

iRig USB mobile audio interface for guitar & bass

Pianoverse piano virtual instrument

Total Studio 4 MAX music production software bundle from $/€199.99

AmpliTube 5 MAX v2 guitar software $/€99.99

T-RackS MAX v2 mixing & mastering software $/€99.99

UNO Synth Pro X Paraphonic dual filter analog synthesizer

TONEX Collections

AmpliTube Morley Collection

AXE I/O ONE 1-in/3-out USB audio interface


Exclusive Education Savings for Wondershare


Leave a comment

Name: (Required)

eMail: (Required)