Lily camera drone killed off after earning $34 million

lily drone diagramsRemember the cute drone from Lily Robotics we reported on back in May 2015? Well, it seems that it is dead in the water. Errr.. sky.

The clever camera drone was all set to take the world by storm.

With its cute looks and ability to follow you for air-born selfies and videos, Lily should have been a sure-fire hit.

Let’s face it, loads of people believed in it and the company, Lily Robotics. How much did they believe in them? How about $34 million of pre-orders belief?

Lily has wilted

Unfortunately, the company has now admitted that it can’t deliver the product, and will wind down in the near future.

The blog post to the Lily community from co-founders Antoine Balaresque and Henry Bradlow basically explains that they’ve run out of money.

lilydroneIt is a real shame as, from what I understand, the devices are pretty much ready to go after lots of testing. The thing is, all those R&D costs have effectively cleaned out Lily’s bank accounts.

This means that there is no cash left over to fund the production run and, with outside investment not forthcoming, it’s time to close the doors.

Thankfully, the remaining money will be used to reimburse people who pre-ordered the device.

If you still own the card that was used in the initial transactions, you don’t have to do anything. If you have since switched, you will need to fill out this form.