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Drone startup Airware crashes, will shut down after burning $118M –

posted by Fnord666 on Sunday September 16 2018, @03:24AM   Printer-friendly
from the airware-vaporware dept.

MrPlow writes:

Submitted via IRC for SoyCow1984

Drone operating system startup Airware today suddenly informed employees it will cease operations immediately despite having raised $118 million from top investors like Andreessen Horowitz, Google's GV, and Kleiner Perkins. The startup ran out of money after trying to manufacture its own hardware that couldn't compete with drone giants like China's DJI. The company at one point had as many as 140 employees, all of which are now out of a job.

A source sent TechCrunch screenshots from the Airware alumni Slack channel detailing how the staff was told this morning that Airware would shut down.

Source: https://techcrunch.com/2018/09/14/airware-shuts-down/

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  • (Score: 1) by khallow on Sunday September 16 2018, @11:43AM

    by khallow (3766) Subscriber Badge on Sunday September 16 2018, @11:43AM (#735616) Journal
    I think there's a significant difference. The interests of the executives in question were considerably misaligned with those of the business. Not having the experience is considerably different than not being interested in running the business competently.