Zano, a crowdfunding project to deliver autonomously piloted mini drones, has officially shut down, following ongoing internal struggles.
Recently, its CEO resigned from Torquing Group, manufacturer of Zano, citing health issues and “irreconcilable differences”. Now, according to the BBC, the dream of ever bringing the product to market is over.
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Despite having raised £2.3 million ($3.5m) in November last year, it has run out of cash, it explained in a backers-only post on the project page.
“Having explored all options known to us, and after seeking professional advice, we have made the difficult decision to pursue a creditors’ voluntary liquidation.
We are greatly disappointed with the outcome of the Zano project, and we would like to take this opportunity to thank everyone who has supported us during this difficult period, especially our loyal employees, whose commitment has exceeded all expectations.”
This will be incredibly disappointing news for any of the 12,075 people who backed the original project, though, as we always say – it’s buyer beware with crowdfunding projects.