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US-Based Startup Skully Gone Bankrupt

The world’s smartest motorcycle helmet is no more!

 Skully Declares Its Shut Down

According to a press release, an open letter was sent to customers of US-based startup Skully saying, “Over the past several weeks our management team has worked feverishly to raise additional capital but unforeseen challenges and circumstances, beyond our control, made this effort impossible.”

Skully executives refused to confirm the news of it’s shut down. However, as per a press statement, an email was sent to customers that confirmed that the startup has officially closed down. Skully is now filing for Chapter 7 bankruptcy, which means customers likely won’t be getting a refund on pre-orders for the $1500 AR helmet Skully was working on.

SKULLY AR-1

The Skully AR- 1 is the first motorcycle helmet to feature a built-in 180° Blindspot Camera and Heads-Up Display for unparalleled situational awareness and safety. It focuses on what matters most, the road ahead. Skully has developed the most advanced technology ever applied to a motorcycle helmet. But sadly, its services are no longer available.

Following is an excerpt from a message on their official retail website:

“Our team is devastated and deeply saddened that our valued partners, vendors, employees, and customers have been negatively affected by what has transpired. We realize there are many unanswered questions and that this is a very upsetting situation. We are truly sorry.”

Reason for Bankruptcy

The startup had run out of money and was trying to sell itself off to a subsidiary of Chinese conglomerate LeECo called LeSport. This was confirmed by various sources inside Skully itself to other presses. Nonetheless, due to multiple issues within the company, the deal remained unfinished and soon the startup was left with nothing.

What precautions have been taken to avoid such a closure? Please share your thoughts in the comments section below.

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