- Founded: 2010
- Ceased Operations: 2019
What did Anki do?
Anki was a company that was known for developing and manufacturing a variety of innovative consumer robotics and artificial intelligence products. Anki’s most successful product was Anki Drive, a racing game that combined an iOS app with physical race cars. The cars were equipped with optical sensors, wireless chips, motors, and artificial intelligence software. Anki Drive was released in 2013 and was a critical and commercial success. The game was praised for its innovative design and its use of artificial intelligence. Anki Drive won several awards, including the Toy of the Year Award from the Toy Association. Anki went on to release several other products, including Anki Overdrive, Cozmo, and Vector.
Anki raised over $230 million in venture capital funding from investors such as Andreessen Horowitz, Index Ventures, and J.P. Morgan.
Who started Anki?
Founders Boris Sofman, Hanns Tappeiner, and Mark Palatucci
Why did Anki go out of business?
Anki faced difficulties in generating sustainable revenue. The high costs associated with research and development, manufacturing, and marketing of its advanced robotic toys placed a significant strain on its finances. Anki struggled to effectively manage and execute its operations at a larger scale, hindering its growth potential and limiting its ability to meet market demand.
Anki faced difficulties in securing additional funding to sustain its operations. Despite receiving investments from notable venture capital firms, Anki required further financial support to fuel its growth and overcome its financial challenges. However, Anki’s failure to secure the necessary funding sources led to a cash crunch and, ultimately, the decision to cease operations.