Reach Robotics, makers of the MekaMon robot, is shutting down, at least in its current form – in the consumer Robotics business. This announcement was made by the Nigerian CEO and co-founder, Silas Adekunle on his LinkedIn page. He however said the company will continue in the Non consumer Robotics sector and the STEAM Education sector.
Reach Robotics was founded in 2013 by CEO Silas Adekunle and Chris Beck, CTO and John Rees, COO joined shortly after. The company which started out in Bristol Robotics Laboratory, became popular when they took Mekamon, the first gaming robot with seamless AR integration from prototype to market. After selling out of its initial run of 500, it scored a $7.5 million funding round to help it produce a more consumer-ready version of its battling robotics platform. It launched Mekamon in many countries and was even available in Apple stores.
The shut down may not be unconnected with the funding pressure it was facing and tough business environment as admitted by Silas on his Instagram page. In July 2019, The Times reported that Reach Robotics was facing a cash crunch. It was under pressure from a creditor and was looking for investment or a sale to stave off collapse. “Reach filed notice of its intention to appoint an administrator last week, giving it 10 working days to settle its debts. It has been laying off some of its 30 staff.”
In his post Silas said, “The consumer robotics sector is an inherently challenging space – especially for a start-up. Over the past six years, we have taken on this challenge with consistent passion and ingenuity. From the first trials of development to accelerators and funding rounds, we have fought to bring MekaMon to life and into the hands of the next generation of tech pioneers.”
“Unfortunately, for Reach Robotics, in its current form at least, today marks the end of that journey.”
“I am immensely proud of what we have achieved. Since founding Reach Robotics at the Bristol Robotics Laboratory, we made huge strides in our technology both in terms of our hardware and app development. We took MekaMon from prototype to market, introduce the world to the first gaming robot with seamless AR integration, launched in dozens of territories and developed a unique education offering that will live on through many initiatives.”
“This simply could not have happened without the highly skilled and creative people that have been part of the Reach Robotics journey. I speak for myself and my fellow co-founders Chris Beck and John Rees when I say it has been a privilege and we have no doubt that they will continue to innovate and enrich the sector. Personally, I am grateful for the experience, lessons learnt, the connections and the opportunity to inspire young people from under-represented backgrounds in STEM and entrepreneurship.”
“I am thankful to everyone who has been a part of this journey, from my co-founders Chris and John, who have been there through thick and thin, to members of the management team who were supportive in the most difficult of times, Jonathan Quinn, Kathryn Green, Philip Green just to name a few.”
“Thank you to all of our investors, advisers, mentors, family and friends over the years. Special thanks to UWE, Bristol Robotics Laboratory, Pervasive Media Studio, SetSquared and so many others who have supported our growth. Reach Robotics began with the vision of creating advanced and accessible robotics to entertain, inspire and educate. I hope to carry that vision forward into the future.”
“Following some travel and much needed rest, the journey will continue in the Non consumer Robotics sector and the STEAM Education sector.”
