Drone Company Lily in San Francisco to Refund Payment to Customers for their Pre-orders
January 13 , 2017
Drone company Lily in San Francisco has announced that it is going to shut down very soon. The autonomous camera drone had amassed $34m (£27m) in pre-orders.
The company sent emails to its customers where it mentioned that it could not raise additional funds for the production of the drone. The start-up has promised to refund all the money of the customers for their pre-orders in next 60 days.
This was supposed to be one of the waterproof and the first "throw-and-shoot" cameras which could track users as well as capture their footage for 20 minutes.
The company's co-founders, Henry Bradlow and Antoine Balaresque wrote to their customers that for the past few months they have been trying to secure financing so that they could unlock the manufacturing line and ship their first units but were unable to do that. They also mentioned that they are saddened and are planning to close down the company.