You might not remember ANKI Robotics, an hardware and AI startup featured onstage at an Apple event in 2013. Well, this company folded yesterday and had to fire 200 employees after burning through $200 million in capital funding (including Index Ventures and Andreessen Horowitz). And ANKI was not idle in the market, it was generating around $100 million in revenue since 2017. This is not small potatoes!
So, why do I write about their failure? To point that even backed by smart money and having access to Apple as a key PR partner, your future as a startup is never guaranteed? Sure. But, I think that it’s a more simple story. The story of the usual cautionary tale on why startups fail.