| Title | Drone startup Airware crashes, will shut down after burning $118M – | |
| Date | Sunday September 16 2018, @03:24AM | |
| Author | Fnord666 | |
| Topic | ||
| from the airware-vaporware dept. | ||
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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printed from SoylentNews, Drone startup Airware crashes, will shut down after burning $118M – on 2023-07-07 01:18:04