, the San Francisco startup behind AI-imbued robotics toys like Overdrive, , and , today 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 , 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