UK startup Hello shuts down after raising $40.5m

Jun 19, 2017 · http://techcitynews.com/

Screen shot 2017 06 19 at 05.05.12

UK founded tech startup Hello, which raised $40.51m in funding, has shut down.

Investors in the startup, which developed a bedroom monitor called Sense, included Singapore’s well-known wealth fund Temasek and David Marcus, head of Messenger at Facebook.

Cherubic Ventures, Shakil Khan, Acequia Capital, Hugo Barra and Bart Swanson also invested in the company.

The company announced the news via a blog post, saying that it would "soon be shutting down".

James Proud, the chief executive, said: "The past few months have been incredibly tough, especially on the team of Hello. For that I’m incredibly sorry."

"Hello has been my whole life for five years, and I couldn’t have asked for a better group of people to have travelled with."

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