Europe's most successful Kickstarter project has imploded
The Zano mini-drone, which raised more than £2.3 million by the time its crowdfunding campaign ended in January 2015, is no more.
It was a neat idea: A drone that can fit in the palm of your hand, with sensors that help it automatically detect objects and follow you, along with a camera mounted on the front. No piloting skill was necessary.
All in all, 12,075 people backed it (at varying levels) on Kickstarter, with the "first edition" version going for £189.
The devices have begun being manufactured, and some early shipments were sent out, but they will now never make their way to the majority of the people who coughed up for them.
The company behind the Zano, Torquing Group, says it is pursuing a "creditors' voluntary liquidation," according to the BBC.
The company told backers that "having explored all options known to us, and after seeking professional advice, we have made the difficult decision to pursue a creditors' voluntary liquidation ... >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."
Last week, the CEO of Torquing, Ivan Reedman, resigned, citing "personal health issues and irreconcilable differences."
The drones were supposed to ship to backers in June 2015, but the campaign had been plagued by delays.
Here is a video promoting the Zano during happier times:
