Unable to fund production of its camera drone, Lily will shut down and refund customers

Lily, the autonomous camera drone that sold a whopping $34 million in preorders, has announced it is shutting down. In an email sent to customers about an hour ago, the startup said that it was unable to raise an additional round of funding which would have allowed it to start production of the drone. So it announced instead that it will be winding down the company, and offering an automatic refund to all preorder customers.
Read more: https://techcrunch.com/2017/01/11/unable-to-fund-production-of-its-camera-drone-lily-will-shut-down-and-refund-customers/?source=Snapzu