Robotics Startup Anki Shuts Down After Burning Through Almost $200 Million

Anki, the San Francisco startup behind AI-imbued robotics toys like Overdrive, Cozmo, and Vector, today shuttered its doors after raising close to $200 million in venture capital from Index Ventures, Two Sigma Ventures, J.P. Morgan, Andreessen Horowitz, and other investors. According to Recode, it’ll lay off its entire workforce of just over 200 employees, each of whom will receive a week of severance.

A failed round of financing was reportedly to blame. CEO Boris Sofman told employees last week that a deal failed to materialize “at the last minute,” as did acquisition interest from companies such as Microsoft, Amazon, and Comcast. READ MORE ON: VENTUREBEAT

Image Credit: Kyle Wiggers / VentureBeat

Image Credit: Kyle Wiggers / VentureBeat

RoboticsYusra Hamid