Money Hyped Drone Company Lily Collapses After Failing To Raise Additional $15 Million
Chess-playing robot at CES learns from experience
Robots that learn from experience and smart, autonomous drones are quickly moving from science fiction to reality and are on display at CES in Las Vegas. The Industrial Technology Research Institute (ITRI), based out of Taiwan, is showcasing these two technologies that could one day help robots take over the world.The first is ITRI’s Intelligent Vision System, which allows robots to interpret the visual world, act on visual information, and learn from experience. That’s right, learn.Many robots are programmed to perform a task repeatedly at a specific time and location.
Lily Robotics, the makers of an autonomous flying camera that launched with great fanfare and garnered million in pre-orders, is dead. The San Francisco- drone company said in an email to customers that it was unable to find more financing to enable manufacturing and production of its first drone . One source that was informed of the company 's troubles said that Lily had been trying to bring in an additional $ 15 million after having already raised $ 15 million by Dec.
Chinese mobile gaming company Chukong raises million .
Lily Robotics, the makers of an autonomous flying camera that launched with great fanfare and garnered, is dead.
The San Francisco-drone company said in an email to customers that it was unable to find more financing to enable manufacturing and production of its first drone. One source that was informed of the company’s troubles said that Lily had been trying to bring in an additional $15 million ( CAD $ 19.6 million ) after having already raised $15 million by Dec. 2015.
“We have been racing against a clock of ever-diminishing funds,” wrote the company’s cofounders Henry Bradlow and Antoine Balaresque. “Over the past few months, we have tried to secure financing in order to unlock our manufacturing line and ship our first units–but have been unable to do this. As a result, we are deeply saddened to say that we are planning to wind down the company and offer refunds to customers.”
Seven Gadgets That Rode the CES Hype Machine to Disappointment
CES debuted gadget hits like the VCR, CD player and Xbox over the years, but the popular consumer electronics conference also showcases a lot of technology that fails to match the hype. Some of the top flops from 50 years of the Las Vegas show include Digital Audio Tape players, Apple’s Newton handheld computer and Atari’s Jaguar gaming console. Here are some of the more recent disappointments from CES.1) Smart GlassesGoogle kicked off a wave of optimism about internet-connected eyewear when it unveiled Google Glass at its developer conference in April 2013.
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Lily’s demise is the latest high-profile blunder in the difficult consumer drone industry. Late last year, GoPro, which had been promising a flagship drone for more than a year, had to recall its quadcopter, Karma, after a battery issue caused the device to lose power and fall out of the sky mid-flight. 3D Robotics, the, had to change its focus toward enterprise applications after it was unable to hit sales targets for its expensive-to-produce drone, Solo.
Bradlow and Balaresque did not immediately return an emailed request for comment.
Lily launched to the public in May 2015 withthat demonstrated a flying robot that could autonomously follow snowboarders and kayakers on their outdoors adventures. The video, which has been viewed nearly 12 million times, features a device that took off when thrown in the air and could seemingly navigate itself around objects, a near-impossible task for most consumer drones at the time.
Google’s parent has given up on one of its big, futuristic projects
The company has disbanded its drone Internet program.Now, though, Google's parent company, Alphabet, is scaling back its ambitions for Internet by drone. It has disbanded the team that had been developing the technology, according to the company.
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