AR motorcycle helmet company Skully looks like it's hit a wall

[midian182]

Skully, the hardware startup behind the augmented reality motorcycle helmet that raised $2.4 million on Indiegogo, has shut down operations, according to TechCrunch. The move follows the ousting of CEO Marcus Weller along with his brother and fellow co-founder Mitch earlier this month.

With its promise of a heads-up display, 180-degree blind-spot camera, GPS, and other audio/visual features, the Skully AR-1 raised more than $14 million from investors and crowdfunding backers. But the shutdown means the 3000+ people who pre-ordered a helmet are now unlikely ever to get one, and sources says the chances of them receiving a refund are slim.

The closure is said to have come about following a botched deal with Chinese firm LeSports, which was apparently looking to acquire Skully as the startup was rapidly running out of cash. A manufacturing issue that slowed down shipment of the AR-1 also contributed to the company's problems.

“I’m shocked and deeply saddened that they would now shut this company down,” Weller told TechCrunch. “We were raising a Series B to continue raising capital but then we had a buyer…I’m almost dubious to this.”

It was only two weeks ago when Skully sent out an email promising that the AR helmets were on their way. “Over 400 AR-1 units will be in customers’ hands by the end of July and all pre-orders will be fulfilled by the end of September. We have 100% confidence in our delivery schedule and will continue to keep you in the loop. Please stay tuned because we have very exciting announcements coming up,” read the message.

While a a total shutdown looks imminent, senior members of staff are still hoping the company’s fortunes will turn around. “The Skully executive team is working diligently on closing a round of funding so that we can continue to fulfill our pre-orders and delight our customers,” said marketing VP Carlos Rodriguez.

Skully’s website is still up, but all the AR-1 helmets are now showing as “Sold Out.”

Permalink to story.

https://www.techspot.com/news/65759-ar-motorcycle-helmet-company-skully-looks-like-hit.html

 

[EClyde]

I'm doing the electric fork and looking for investors

 

[EClyde]

Actually this reminds me of "Joy"

http://www.imdb.com/title/tt2446980/?ref_=nm_flmg_act_6

 

[Skyyy]

It's probably not a good idea to play Pokemon and drive a motorcycle anyway. Seriously, though, if it's a good product, I hope they sell out to a larger company that can pick up on it.

 

[SupportThe2ND]

Crowdfunding, The pyramid scheme of the 21st century.

 

[Reehahs]

Crowdfunding, The pyramid scheme of the 21st century.

On a flip of a coin.

 

[fastvince]

Wow...14 million and not even 1 helmet. were they gold plated !?
Guess after you pay the founders salaries,office and equipment and new tesla's for the exec's
there wasn't much left
for R&D.

 

[HyperPete]

I just checked out the AR-1 page. It shows the following: Estimated delivery is November 2016.

 

[Tanstar]

Unless the Founder and Co-Founder spent all the money, ousting them before closing down seems stupid. It also seems stupid that there was a Founder, Co-Founder, VP of Marketing, and apparently a full board to be able to kick out the founders. If you haven't delivered a single product yet then you really don't need that much bureaucracy already in place.