Intellivision cuts latest Amico fundraising campaign short, setting alarm bells ringing
Weeks after admitting it might not last beyond July.
Intellivision has cut its latest fundraising campaign for the still-unreleased Amico console short, setting yet more alarm bells ringing over the troubled machine's future.
The Amico, designed as a low-spec console with a family focus, was announced in 2018 and initially expected to arrive in October 2020. However, the machine has since been thrice-delayed, with still no sign of a launch in sight. Worse still, a recent SEC filing highlighted "significant debt" for Intellivision and suggested that, having made no revenue since its inception, the company may not be able to operate beyond July 2022 without additional funds - despite 6,000 pre-orders for Amico still being unfulfilled.
Intellivision's SEC filing preceded another round of fundraising for the Amico, in which the company was looking to raise $5m USD in capital through Start Engine. 21 days into the campaign, however, Intellivision has now called time, raising just $58,001 from 54 investors.
As Ars Technica tech culture editor Sam Machkovech (who has been closely documenting the unfolding Amico story) noted on Twitter, Intellivision's decision to close the campaign early and take the money rather than holding out the full three-month term is as "bright and red a flag as it gets in the world of unreleased tech hardware."
It's another curious episode in an ongoing saga filled with curious episodes, including Intellivision's decision to start selling boxed copies of Amico games last October (charging $79.99/€79.99 for four games set to retail for less than half that digitally), despite the fact there was, and still is, no release for the console in sight. All Intellivision said at the time is that it expected the machine to arrive "in the upcoming months".
In February this year - following the announcement Intellivision CEO Tommy Tallarico had left his role - the company provided an update, insisting production for the much-delayed Amico was just beginning. However, with July growing steadily closer and just $58,000 added to Intellivision's coffers following its recently aborted funding campaign, it's unlikely confidence in the company's statements will be restored until units are in purchasers' hands.