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Robotics startup Anki shuts down after burning through almost $200 million

San Francisco-based robotics startup Anki has closed up shop after a recent round of funding failed and companies that had show interest in acquiring the firm, such as Amazon, Comcast and Microsoft, did not step up. Since it was established in 2010, Anki secured $200 million in funding, allowing it to produce various popular AI-integrated toy robots including Overdrive, Cozmo, and Vector.

The shuttering of Anki serves as a reminder that even though AI and robotics are bound to change the world as we know it, this combination doesn’t always work out, especially in the consumer market for robotics, which remains a tough nut to crack.

Read more: Robotics startup Anki shuts down after burning through almost $200 million

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