The Lily Drone created a lot of excitement among drone enthusiasts when it was first started as a campaign on Kickstarter. It earned about $34 million in pre-orders but unfortunately kept falling behind on schedule and delayed shipping.
But now, the company has finally admitted that they aren’t able to release the product and will be shutting down production completely. In a blog titled, “The Adventure Comes to an End,” Lily founders Antoine Balaresque and Henry Bradlow said that they were “sorry and disappointed” about the failure and will be refunding all the money for customers who pre-ordered the drone.
“We have been racing against a clock of ever-diminishing funds,” write the pair. “Over the past few months, we have tried to secure financing in order to unlock our manufacturing line and ship our first units — but have been unable to do this. As a result, we are deeply saddened to say that we are planning to wind down the company and offer refunds to customers.”
Apparently, the drones are ready to go after the extensive testing, but these R&D costs have left the company with almost no money. And with no more cash to fund the production run and no investment from outside meant this was the next best step.
Whatever money they have remaining, the company plans to use to refund their customers. If you still use the card with which you ordered the drone, you don’t have to do anything, but if your card has changed, you will have to fill out this form.