Skully has officially announced that it is shutting down and is filing a Level 7 bankruptcy. The startup that claimed to bring forward the world’s first augmented reality “superhuman” helmet, is selling its assets in the face of financial loss. Company’s founders Marcus and Mitch Weller had previously been forced out due to internal clashes.
The story of Skully is heartbreaking because it really seemed like a promising idea. The executive board, after firing the founders of the company, have finally admitted that it is over. The decision abandoning the Skully’s creators followed extradition of more employees, including the engineering team. Skully’s website is still up and running with all the offers, but not without payment issues with the hosting provider.
Previously, rumors had hit the internet that Skully might be acquired by Chinese conglomerate LeECo called LeSport, which has now been confirmed. Apart from the low finding, the startup’s demise is being ascribed to manufacturing issues and bad decision making on the part of its founding members, which eventually lead to their expulsion.
According to Skully, a $6 million in funding had been raised but the amount was insufficient to rescue the company out of the financial arrest. The customers who had purchased the pre-orders for the $1500 are receiving apology letters. Unfortunately, there will be no refunds.