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. From a report: 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 Softman 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. Anki claimed to have sold 6.5 million devices total, and 1.5 million robots last August alone. (Cozmo was the top-selling toy on Amazon in 2017 with a community of more than 15,000 developers.) And in fall 2018, the company revealed that revenue was close to $100 million in 2017, a figure it expected to beat the subsequent year.

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