Another great lesson from a failed robotic company with $8M!
One thing I've been saying for the last 3 years is that it doesn't matter how much funding you get.
It doesn't matter the intelligence of the team.
It doesn't matter how great the idea is or the size of the market.
If the robot isn't affordable, people are unlikely to buy.
"Affordability" must be determined by a real customer before funding.
It shouldn't be determined after the product is ready.
A $300K robot for unloading, no matter how great, is unlikely to secure many customers.
If you want to succeed in robotics, don't worry as much about getting funded, but worry about if your customers will buy from you.
The good news is my team has learned this lesson, and we will be hopefully releasing 2 affordable robotic solutions soon!
Global robotics industry expert; editor, writer, and speaker; live event director
Unfortunately, Dextrous Robotics shut down in late December. The company took a unique approach to automating trailer unloading with a chopstick-like robot. I spoke with one of the founders to learn what happened. #robotics#robots#automation#logistics#startups 🤖
Founder & CEO @ IONA | Autonomous Logistics | Forbes 30U30
2mo🚀👌🥹 #proud