The Foxconn and TCL-backed hotel electronics producer is reportedly set to shut down today, less than a year after targeting funding at a $1.5bn valuation.
Tink Labs, the China-based hotel technology provider backed by mobile device producer TCL and manufacturing services firm Foxconn, is shutting down, the Financial Times reported on Tuesday.
Founded in 2012, Tink Labs provides smartphone-like devices to hotels that allow guests to enter their rooms and access hotel services as well as local information. It was reported in November 2018 to be in the final stages of negotiations to raise $300m at a $1.5bn valuation,
However, the company has been executing…
