Augmented reality (AR) and virtual reality (VR) have enjoyed a boost in popularity during the pandemic, finding uses in business, education, and retail in addition to gaming. However, they still have a ways to go in inputting text. Due to the lack of a hard surface and accurate ways to track finger movements, typing can prove tricky and inefficient.

Tap Systems is offering a wearable solution that allows users to type and select accurately in AR and VR. For a smooth experience, users simply need to wear the Tap Strap 2 and tap their fingers against a surface. We reached out to co-founder and CEO Dovid Schick to hear more about the inspiration behind the company and how it’s addressing supply chain problems.

Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.

Funding Round Details

Tap Systems logo
Company: Tap Systems
Security Type: Equity - Common
Valuation: $51,271,714
Min Investment: $100
Platform: Wefunder
Deadline: Nov 4, 2022
View Deal

In your own words, how would you describe Tap Systems?

Tap is an input technology that makes augmented and virtual reality (the “metaverse”) as easy to use as your smartphone. Tap allows you to control menus and enter text just by tapping your fingers on any surface. With Tap, you can write at 70 words per minute with just one hand and can control apps through a simple, intuitive interface.

What inspired you to take the leap and start this company?

I am an electrical engineer and inventor. My last company went public on the NASDAQ and was then purchased by a much larger company. After it was sold, I became interested in the problem of how we will interact with new immersive computers, such as AR and VR. These devices are currently very difficult to use, and the input methods are slow, error prone, and frustrating. This problem has prevented much wider adoption of AR and VR. As I began working out the details of Tapping, I became certain that I had come across an amazingly powerful technology that had been completely overlooked by other companies. I convinced Sabrina Kemeny to join me as a co-founder, and together, we filed the original patents and launched Tap Systems, Inc.

Who is on your team and how did you come together?

Dr. Sabrina Kemeny is my co-founder and is Tap’s president. She is the co-inventor of the CMOS image sensor, which is the technology that has made cellphone cameras possible and is now the foundation for all digital imaging. Sabrina started a company called Photobit to develop and commercialize the CMOS technology, which she later sold to the large semiconductor company Micron Technology. Sabrina and I collaborated in the past when we were both CEOs of our own companies, and I knew when I began working on Tap that her genius and experience would be invaluable.

How is Tap System transforming the AR and VR industry?

Tap is changing the perception of AR and VR from being a niche product that is difficult to use to being a user-friendly tool for a wide population of users. Our timing could not be better. Apple, Facebook (Meta), Microsoft, Google, and others are investing billions of dollars in developing these technologies. They are competing for what is expected to be a market that will be worth $300 billion by 2024 and will produce the next major step forward in the computer age. But a major barrier has been the frustrating user experience. With Tap, that problem is finally solved.

What does the competitive landscape look like, and how do you differentiate?

Tap is the only input method that is as fast and accurate as a keyboard or touch screen. All of the other methods in use require large hand motions that are slow and have limited capabilities. Tapping is also tactile, so it is eyes-free, and there is no eye strain when using it. As of now, we do not know of any technologies that are directly competitive with Tap.

How is the user experience with your device? Is there a steep learning curve?

We have more than 30,000 users and a four-star rating on Amazon for our first-generation product, which I think is amazing. You can start tapping right out of the box, but as with anything, the more you use it, the faster you will become.

How are you combating the supply chain problem that many manufacturers are facing?

The supply chain has been a major challenge during the past year. We manufacture our product in Asia and — like most other electronics — have had to deal with part shortages and shipping disruptions. Our new-generation product will be produced closer to home, and we are already designing out any components that may undergo shortages in the future.

How do you intend to use the money you raise this round to scale the business?

A significant portion of the funds will be used to move our new-generation wrist-wearable hardware into mass production and launch it into the market. We will then have enough funds for approximately 18 to 24 months of runway in which to ramp up our revenues.

What do you want potential investors to know about you and/or your company?

There are three unique things about this opportunity that, I feel, sets it apart:

  • Tap is proven technology backed by a strong patent portfolio.
  • The market potential for AR and VR is so massive that it comes along rarely in a lifetime.
  • The company is led by accomplished entrepreneurs who have a track record of inventing game-changing technologies, scaling up companies, and making money for their investors.

As you think about the business 5-10 years down the road, what do you see exit opportunities looking like? Have you set any future goals for the company?

We address a critical problem in the deployment of the metaverse, upon which all of the major tech companies are placing huge bets. So it is very plausible that we will have the opportunity to be acquired in the coming few years. The road ahead for us is bright. We simply need to execute on our plan and continue to develop great technology.

We look forward to seeing where Dovid and his team take the company. Tap System is currently raising on Wefunder.