Migo Robotics, the company behind the pioneering Ascender robot vacuum, has announced a significant update regarding its ambitious project. Despite generating considerable global interest, the company is facing substantial financial challenges, leading to the decision to refund all backers.
Ascender: A Game-Changer in Home Cleaning
The Ascender was introduced as a revolutionary home cleaning device, the first of its kind capable of navigating stairs. This feature sets it apart from traditional robot vacuums, which are confined to single-floor cleaning.
Financial and Resource Hurdles
Despite the promising features, Migo Robotics has encountered significant obstacles in securing the necessary funding from Chinese venture capitalists amid strong economic headwinds. The company also cited the need for additional talent, time, and resources to bring the Ascender to market.
As a result, Migo Robotics has decided to return all funds to its Kickstarter backers. The company has coordinated with Kickstarter to facilitate these refunds, which are expected to be processed within two weeks.
Looking Ahead: Seeking New Funding
Migo Robotics remains committed to the Ascender project and is now seeking $5 million USD in funding, with a company valuation of $20 million USD, to make the product a reality. The company is reaching out to its community and potential investors in the EU and the US for support.
In the interim, Migo Robotics encourages backers and supporters to subscribe to their YouTube Channel for ongoing updates. Backers will receive priority notifications and special deals once the product is ready for shipment.
Conclusion
While the current financial challenges have prompted a temporary setback, the Migo Robotics’ dedication and the support of its backers provide hope for the eventual success of this groundbreaking product. For more information or to support Migo Robotics, contact them at hello@migorobotics.com.