9 out of 10 startups fail in all possible ways they can. The common constant they carry is they all are in an incredibly difficult business. Launching a company merely not to create products and sell, but it depends on billion different things.
There are multiple stories of hardworking individuals and startup founders with the promising product to change and impact lives of the people.
So here it is, a list of some of the biggest and most promising startups that closed in 2019
Raising a spectacular $182, founded in 2013, ANKI was a promising startup showcasing a new generation slot on stage at the World Wide Developer Conference keynote.
In 2016, ANKI released Cozmo. Cozmo was the result of large investments, and association with ex Pixar and Dreamworks employees to craft a high range of emotions in the robot's eyes. In the 2018's the company launched another robot focusing on adults. This year in April, ANKI officially in spite of selling 1.5 million robots and as many as Cozmo models.
Raising 3 million dollars and acquired by FORD in 2017, as a shutter startup aimed to reinvent mass transit with a fleet of vans for commuters. The routes were on the "Crowd Sourced Vote".
After acquiring the Chariot, Ford it down after two years in the beginning of 2019.
Funds Raised - $4.7. Trying to deal with the challenge of rapidly increasing real estate prices by matching roommates who shared apartments split into "micro-rooms." The company said that they had 1000 active residents as of March. As a part of shutdown, the residents were unable to get their deposits back but they were able to keep the divider or sell it.
Raising around $72.7 million, it was a tough year for both ANKI and JIBO for consumer social robots. Just like the shut down of Aibo previously, JIBO's end was punctuated by the incredibly depressing nature of watching an adorable robot friend draw it's final breath. JIBO told its customers in April, "I want to say I've really enjoyed our time together. Thank you very, very much for having me around.
One of the first startup saga's of 2019, involved the meal delivery startup, Munchery. After the business sent out emails to its customers notifying them of its imminent shutdown, it's vendors came forward with a slew of accusations. The company's immediate shutdown sparked question on accountability. While the CEO and its venture capital investors stayed largely silent, its vendors cried out for an explanation and even protested outside the office of SHERPA CAPITAL, in search of answers and payments.
The company helped pioneer the consumer sous vibe category, only to see the market flooded by competing devices. In multiple successful kickstarter campaigns totalling $1.3 million, backing from SAMSUNG ventures and an attempt pivot into meal plans, the startup just couldn't survive.
"The total climate for food tech has always been different than it used to be," CEO Lisa Fetterman told techcrunch. "There was a time when food tech and hardware were much more hot and viable. I think a company can survive a few hurdles, and a few challenges.
A pioneer company in AR glasses, news emerged when Osterhout Design Group's shut down in the first few weeks of January. Only a couple of years ago it raised a stunning, $58 million. Unable to pay its employees, by 2018 ODG lost half of its workforce. By early 2019, a small crew left waiting for the large acquisition.
The startup began as a physical storage company, then tried to pivot after selling off its physical storage operation to competitor clutter in May- Tried unsuccessfully to build a white-label software platform that would allow brick and mortar merchant to operate their own business for renting and selling products.
Founded by Olcan Sercinoglu and Dmitry Lepikhin, Scales Inference made headlines in 2014 with a plan to build machine learning and artificial intelligence technology similar to what's used internally by companies like GOOGLE, and making it available as a cloud service that can be used by anyone. The ambitions were grand and attracted investors like Felicis Ventures, Tencent and Khosla Ventures.
It was unfortunate that this promising startup was shut down. The former CEO Sercinoglu tells us the shutdown was a result of a lack of funding due to insuffiecient commercial traction.
Several companies are formed, incorporated and shutdown. Year 2019 had been a great year for the startup eco-system and seeing the rise of several promising companies that shall scale the future with their products.
Let's just say the new decade marks the start of a new era.