StartX-backed Lighthouse AI failed to garner enough commercial interest in its interactive household camera despite raising $17m in funding.
Lighthouse AI, a US-based interactive household camera maker backed by Stanford University’s StartX fund, is to close after struggling to meet its commercial objectives.
Founded in 2014, Lighthouse AI has created an interactive household camera that applies artificial intelligence to data collected from 3D sensors to provide greater context to its footage.
Customers could pull up relevant recordings from the system by issuing commands related to an anticipated event, such as children arriving home from school. Lighthouse will cease trading in the near future and has informed customers who have placed orders how to claim refunds.
The company had received $20m of funding, according to The Information, which first reported the news before it was confirmed in a blog post from Lighthouse CEO Alex Teichman.
StartX had joined Eclipse Ventures, Playground Global, SignalFire and Felicis Ventures for a $17m funding round in May 2017.
Teichman, an alumnus of Stanford University, said: “I am incredibly proud of the groundbreaking work the Lighthouse team accomplished – delivering useful and accessible intelligence for our homes via advanced AI and 3D sensing.
“Unfortunately, we did not achieve the commercial success we were looking for and will be shutting down operations in the near future.”
– Feature image courtesy of Lighthouse AI
