12 startups that failed this year 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 CEO caused 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

Year founded: 2013

Valuation: $275 million

Amount raised: $62 million

Read more about Shyp on PitchBook.

See the rest of the story at Business Insider

Contributer : Tech Insider https://ift.tt/2OO2wf5

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