May 28, 2024 894

"Humane AI is reportedly looking for a buyer, just weeks after its disastrous wearables launch"

#Artificial Intelligence

Humane is exploring a sale, seeking $750 million to $1 billion, Bloomberg reported.

Humane, an AI startup known for its wearable pin, is seeking a buyer at a valuation between $750 million and $1 billion, according to Bloomberg. Founded in 2018 by former Apple managers Imran Chaudhri and Bethany Bongiorno, Humane's pin, priced at $699 with a $24 monthly fee, offers smartphone-like capabilities such as making calls and taking photos. However, its April launch was poorly received, with harsh reviews highlighting its lack of readiness for consumers.

Despite the rocky launch, Humane's cofounders remain optimistic, stating that the device and its operating system are just the beginning, with updates planned to enhance its functionality. In March 2023, Humane raised $100 million in a Series C funding round from notable investors including Microsoft and OpenAI cofounder Sam Altman. The broader tech industry continues to invest heavily in AI-powered wearables, although many products have yet to achieve widespread consumer adoption.