Lily, the corporate behind an autonomous digicam drone that had amassed $34m (£27m) in pre-orders, has introduced that it’s shutting down.
In an e-mail to prospects the start-up mentioned it had failed to lift extra funds to begin manufacturing of the drone.
It promised to reimburse all pre-order prospects throughout the subsequent 60 days.
The waterproof drone was to be one of many first “throw-and-shoot” cameras that would monitor customers and seize footage of them for as much as 20 minutes.
“We now have been racing towards a clock of ever-diminishing funds,” wrote the corporate’s co-founders, Henry Bradlow and Antoine Balaresque, to prospects.
“Over the previous few months, we now have tried to safe financing so as to unlock our manufacturing line and ship our first items – however have been unable to do that.
“In consequence, we’re deeply saddened to say that we’re planning to wind down the corporate and provide refunds to prospects.”
In a promotional video launch in Could 2015, the digicam drone was proven being thrown within the air and following snowboarders and kayakers through a water-resistant system worn across the wrist.
It was watched greater than 12 million instances.
The drone was launched with a pre-order worth of $499, and a few 60,000 prospects are believed to have signed up.
It was scheduled to ship in February 2016, however that was later delayed till the summer time after which once more to early 2017.
Throughout that point, related follow-me drones from Chinese language corporations DJI, Zero Zero Robotics and Yuneec have hit the market.