An AI alarm clock company raised nearly $1 million on crowdfunding and went bankrupt

guest · Jan 25, 2019

An AI alarm clock company raised nearly $1 million on crowdfunding and went bankrupt
The backers want their money back
January 25, 2019
https://www.theverge.com/circuitbre...clock-kickstarter-indiegogo-shipping-bankrupt

After raising nearly $1 million on crowdfunding platforms to build an AI-powered alarm clock, the French hardware startup Holi has filed for bankruptcy without shipping products to the vast majority of its backers.
Out of the nearly 7,000 owed units, only about 1,000 shipped. Those that did will cease functioning on February 1st when Holi says its servers will go down.

Holi’s incident further shows how failed projects are especially problematic for backers. No one will receive a refund, and the only insight they ever had about the campaign’s failure was from the creators themselves and through updates on both Indiegogo and Kickstarter.

In this case, both Google and Amazon sell similar devices to Bonjour, which might be good news for these backers. But for now, they’re out more than $100 for a device that never made it to their door.
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Rasheed187 · Jan 26, 2019

That's why I don't mess around with crowdfunding, there are no guarantees.

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An AI alarm clock company raised nearly $1 million on crowdfunding and went bankrupt

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An AI alarm clock company raised nearly $1 million on crowdfunding and went bankrupt

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