12 startups that failed this year (2018) and took $1.4 billion in VC funding with them
Just because everyone from Ashton Kutcher to Kevin Durant are getting into startups doesn’t mean they’re all success stories.
After all, nine out of 10 startups will end up failing, and that means the money that venture capitalists put into funding these ideas can disappear too. From analyzing just 12 startups that failed this year,PitchBook found that around $1.4 billion in VC funding wasn’t enough to save these businesses.
Theranos, a blood-testing startup, is one of 2018’s most notable failures. The company racked up close to $1 billion in funding before questions about the technology and fraud charges against the CEOcaused the Theranos to dissolve.
Here are 12 startups that failed in 2018:
Theranos — blood-testing technology
Year founded: 2003
Valuation: $9 billion
Amount raised: $910 million
Read more about Theranos on PitchBook.
Rethink Robotics — robots for manufacturing industry
Year founded: 2008
Valuation: $291 million
Amount raised: $150 million
Read more about Rethink Robotics on PitchBook.
Shyp — on-demand delivery platform
Shyp
Year founded: 2013
Valuation: $275 million
Amount raised: $62 million
Read more about Shyp on PitchBook.
Apprenda — cloud-based software for developers
Apprenda
Year founded: 2007
Valuation: $90 million
Amount raised: $56 million
Read more about Apprenda on PitchBook.
Airware — drone analytics provider
Airware
Year founded: 2011
Valuation: $59 million
Amount raised: $104 million
Read more about Airware on PitchBook.
Alta Motors — electric motorcycles
Alta Motors
Year founded: 2010
Valuation: Unknown ($55 million in November 2016)
Amount raised: $44 million
Read more about Alta Motors on PitchBook.
Primary Data — automation software platform
Primary Data
Year founded: 2013
Valuation: $52 million
Amount raised: $89 million
Read more about Primary Data on PitchBook.
CareSync — one-stop software for personal health information
Apple App Store/CareSync
Year founded: 2011
Valuation: $46 million
Amount raised: $26 million
Read more about CareSync on PitchBook.
Bluesmart — smart suitcases
Bluesmart
Year founded: 2013
Valuation: $41 million
Amount raised: $30 million
Read more about Bluesmart on PitchBook.
Lantern — smartphone app for therapy
Lantern
Year founded: 2012
Valuation: $37 million
Amount raised: $22 million
Read more about Lantern on PitchBook.
Raden — smart suitcases
Business Insider
Year founded: 2015
Valuation: $12 million
Amount raised: $3.5 million
Read more about Raden on PitchBook.
Fieldbook — spreadsheet-to-database software
Fieldbook/Product Hunt
Year founded: 2013
Valuation: $11 million
Amount raised: $3 million
Source: Business Insider
