Massachusetts-based Aria Insights has closed its operations from March.
The high price of drone and unavailability of wifi everywhere resulted in the closing of Aria Insights.
The company has raised about $39 million in venture funding and debt financing so far.
Drone startup CyPhy Works found a new AI/data-driven focus for manufacturing drones earlier this year so decided to rename it to Aria Insights and reboot its functions. But Helen Greiner-founded drone startup Aria Insights is no more within two months of this major reformation on the firm. Before being shut Massachusetts-based Aria Insights was focusing to use the rebranding to concentrate on integrating artificial intelligence and machine language into its drones.
The company was founded in 2008 under the name The Droid Works, with robotics pioneer Helen Greiner, the co-founder of iRobot, as one of its founders. Aerial vehicles build by the company were used in law, defense, agriculture, Energy and enforcement industry. The company has raised $4.5 million in debt finance funding in June 2018 and it has raised about $39 million in venture funding and debt financing.
According to the Vanden Brook’s talk with Robotics Business Review in January about the reason why he wants to concentrate more on giving data analytics and rebranding he said, the team at CyPhy faced the limitations in the industry namely the complications and risks of retrieving and analyzing data after working 10 years in innovating drone technology.
The reason behind focusing data analytics is because there are several companies who are using our drones and collecting massive data but there is no facility in the industry to fastly and efficiently convert that data into an actionable insights.
Since its business life, Aria/CyPhy had tested drone delivery with UPS, announced plans for an office in Japan, and gave security monitoring for the Boston Marathon.
Same as Aria Insights October last year Rethink Robot another company launched by a former iRobot co-founder also shuttered suddenly, consumer robot companies Mayfield Robotics and Jibo and drone company Airware closed in September 2018.
The previous year in June Helen Greiner, founder of CyPhy Works also left the company to work for US Army. The company has to shut down because the price of drone manufactured by them was too high i.e. $ 5000 to be afforded and Internet technology wasn’t ready yet, and it wasn’t consumer-friendly because consumers don’t have a wifi connection at all places.
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