3 Failed Robot Startups & Analyses on Why they Failed
There are a lot of things to consider when building a new startup - where to get funding, how to validate your idea, and what features should the product have.
One of the challenges is finding a market that is willing to pay for your solution without even knowing what it is yet.
However, 90% of startups will fail and shut down.
In this article, you can find 3 failed Robot startups as well as analyses on why they closed down.
3 Failed Robot Startups
1) Anki
Anki aimed to intergrate robotics and IoT with kids' toys and games but shut down in April 2019 after failure to raise funding.
Details of the startup:
- Founders: Boris Sofman, Hanns Tappeiner, Mark Palatucci
- Country: United States
- Started in: 2010
- Closed in: 2019
- Nº of employees: 100-250
- Funding Amount: > $50M
- Specific cause of failure: Lack of Funds
You can read more about their failure here.
2) QBotix
QBotix offered solar panels that tracked solar light. Their competitors' efficiency improved, making QBotix's innovative solar panels less cost-effective.
Details of the startup:
- Founders: Wasiq Bokhari
- Country: United States
- Started in: 2010
- Closed in: 2015
- Nº of employees: 10-50
- Funding Amount: $10M-$50M
- Specific cause of failure: Competition
You can read more about their failure here.
3) Seven Dreamers Laboratories
Seven Dreamers Laboratory built a robot that washed, ironed and folded laundry. However, their product was expensive and couldn't match human's dexterity.
Details of the startup:
- Founders: Shin Sakane
- Country: Japan
- Started in: 2014
- Closed in: 2019
- Nº of employees: 100-250
- Funding Amount: > $50M
- Specific cause of failure: Poor Product
You can read more about their failure here.
