After raising record $3.4M on Kickstarter, UK drone startup collapses

[Guest]

Torquing Group only shipped 600 of the more than 15,000 Zano drones ordered.

 

In January 2015, Torquing Group concluded its Kickstarter campaign to fund production of its handheld drone, known as the Zano, raising more than £2.3 million ($3.4 million) in under two months.

When Ars visited the company headquarters in May 2015, Reedman promised that the drone would be shipping in July 2015, which it did not. Torquing also declined to demonstrate the drone in flight for us. When the BBC visited earlier this year, the news agency also reported notable problems.

 

https://www.youtube.com/watch?v=hgkbhjXTbOE

 

Statements from Torquing group

 

Having explored all options known to us, and after seeking professional advice, we have made the difficult decision to pursue a creditors' voluntary liquidation. All creditors will be contacted by an insolvency practitioner next week.

We are greatly disappointed with the outcome of the Zano project and we would like to take this opportunity to thank everyone who has supported us during this difficult period, especially our loyal employees whose commitment has exceeded all expectations.

 

Source: http://arstechnica.com/business/2015/11/after-raising-record-3-4m-on-kickstarter-uk-drone-startup-collapses/

 

The whole point of this issue is a successful kickstarter campaign ending in a devastating collapse

The company promised a lot of drones to consumers and contributors, but they failed to ship almost all of the promised units

 

I think that there should really be a better platform for creators to get funds, but the contributors should also have a better idea of what the company is getting into

I'm not sure how the company can solve this problem, or address the problems to those who have contributed to their huge project which garnered so much attention

[Mr.Tech.Qc]

 

snip

 

wow did not expect that of such a great concept!

[pagani123]

im actually kind of glad the smartphone drones need to go away they are fatally flawed by the fact that there connected to smart phones in staid of proper receivers 

[Toddwjp]

im actually kind of glad the smartphone drones need to go away they are fatally flawed by the fact that there connected to smart phones in staid of proper receivers 

 

yeah pretty much this,