The Lily drone is so striking when the video was put online. After 60,000 pre-orders and $ 34 million raised, the company just announced that it would never go out. Just for the comparison, Hover Camera only raised $25M and delivered the final product to the customers. -Is it a good product? Not at all! But they made something real without complaining that they have no money.
The idea of Lily drone was good: a fully autonomous drone requiring no control to operate. The design was successful and had contributed to the total success of the crowdfunding campaign.
But it is at the financial level that the startup has not transformed, by failing to find enough funding from investors or banks to achieve production start-up. Seriously? $15 000 000 USD was not enough to make Lily drone fly? But Lily started to sell not existent product and got $ 34M on top of $15M. And now their excuse is that there was not enough money to manufacture the autonomous drone.
“We have been racing against a clock of ever-diminishing funds,” they said. “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.”
The founders announced that all backers would be reimbursed within 60 days. If your credit card has expired since then, you will need to fill out a form to receive the $ 500 you advanced.
The drones of the market now offer automatic tracking functionality of the remote control or a point of interest. The DJI Mavic Pro is doing very well for example. You can browse our guide of the five pocket sized drones.
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