UNOMi II

UNOMi II

Software platform for animators that participated in Backstage Capital's accelerator program

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Security Type
Convertible Note
Min Investment
$100
Location
Venice, CA
Offering Date
October 16, 2020
Expected Close Date
March 21, 2021
Target Raise
$25.00K-$428.00K
Deal Notes

Discount Rate: 20%

Interest Rate: 5%

Conversion Provisions: In connection with equity financing of at least $1 million, the Company has the option to convert the Crowd Note into non-voting preferred stock (Conversion Shares) at a price based on the lower of (A) a 20% discount to the price per share for Preferred Stock by investors in the Qualified Equity Financing or (B) the price per share paid on a $4 million or $5 million valuation cap. Please refer to the Crowd Note for a complete description of the terms of the Crowd Note, including the conversion provisions.

Company Description

UNOMi aims to provide creators with an easier and more efficient way to create animated content. The company’s software product is designed to automate many of the more difficult tasks in animation production and enable creators of all skill levels to save money and time in design and production. UNOMi was founded by Obi Onyejekwe, a serial entrepreneur and founder of Nito, a face-tracking technology company that was sold to AOL in June 2016.iii

The company released its first product – the 2D/3D lip-sync – in September 2019 and has many additional features and products on its roadmap. Following the release of 2D/3D lip sync, UNOMi closed its first crowdfunding raise with MicroVentures after reaching its maximum goal of $107,000 in January 2020 and is returning to raise another round.

Key Deal Facts

Out of 1,800 applicants, UNOMi was one of 25 companies selected to be a member of Backstage Capital’s inaugural accelerator class in March 2019i
Patent-pending technology for its method of generating mouth animations
Founder sold his last company to AOL in June 2016ii
Creating an even larger suite of products that implement voiceovers, motion capture, and personal avatar building so users can have even more tools when designing and producing their animated content

Use of Proceeds

  • Intermediary Fees
  • Product Development
  • Legal Fees
  • Marketing

Management Team / Advisory Board Bios

Obi Onyejekwe
Co-Founder and CEO
In addition to his responsibilities at UNOMi, Obi is the COO and Co-Founder of Pixel Pirate Studio, a production company that develops animated content and mobile games for brands. Before that, he was the Founder and CEO at Nito a content branding startup, where he led all strategic efforts of the company. In June 2016, he sold Nito to AOL.xxiv He has worked on multi-media campaigns for large companies and major entertainment entities like Spike TV, Nickelodeon, BET, and others. Obi graduated Cum Laude with a degree in Graphic Design from Georgia State University.

Arama Brown
Co-Founder and Lead Software Engineer
Arama joined UNOMi in 2018 as the lead software engineer, where she leads all software development efforts. Prior to joining UNOMi, Arama was a solutions architect for OpenX, a Los Angeles area programmatic advertising technology company. She also has over five years of experience in software consulting for a variety of technology companies. Arama earned her Bachelor’s in Finance from University of Illinois at Chicago.

Llama D'Attore
Full Stack Developer
Llama recently joined the team in October and brings extensive programming experience. Llama developed a passion for programming throughout his childhood and has since contributed code to large enterprises, open-source software libraries, and a variety of other B2B and B2C businesses. Llama is also the CEO of Sound Safari, a software that analyzes live music through a combination of machine-learning and AI that generates 3D worlds, which respond to music. Prior to joining UNOMi, he was a front-end engineer at People Walker, a website engineer at ECOBAGS, and an I/O programmer at Unisys. Llama has a Bachelor’s degree in computer science and mathematics from Drexel University.

Deal Notes

Discount Rate: 20%

Interest Rate: 5%

Conversion Provisions: In connection with equity financing of at least $1 million, the Company has the option to convert the Crowd Note into non-voting preferred stock (Conversion Shares) at a price based on the lower of (A) a 20% discount to the price per share for Preferred Stock by investors in the Qualified Equity Financing or (B) the price per share paid on a $4 million or $5 million valuation cap. Please refer to the Crowd Note for a complete description of the terms of the Crowd Note, including the conversion provisions.

Amount Raised : $120,927
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Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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