The company closure will see the loss of nearly 200 jobs.

Anki has announced its closure and is set to terminate the contracts of nearly 200 employees this week. In a statement, the company said, “A significant financial deal at a late stage fell through with a strategic investor, and we were not able to reach an agreement.”

Since its launch in 2010, the company has raised more than $200m in venture capital, enjoying successful sales of key products Cozmo and Vector. Vector launched last year after a Kickstarter campaign, and recently received Alexa integration.

The company has explored many options to fund future product development, and it is reported that Microsoft, Amazon and Comcast had expressed interest in acquiring the business.

A representative for the company said: “It is with a heavy heart that we announce that Anki will be letting go of our employees, effective Wednesday. We’ve shipped millions of units of product and left customers happy all over the world, while building some of the most incredible technologies pointed toward a future with diverse AI and robotics driven applications. But without significant funding to support a hardware and software business and bridge to our long-term product roadmap, it is simply not feasible at this time. Despite our past successes, we pursued every financial avenue to fund our future product development and expand on our platforms. A significant financial deal at a late stage fell through with a strategic investor and we were not able to reach an agreement. We’re doing our best to take care of every single employee and their families, and our management team continues to explore all options available.”