Martian Watches is no longer in business, and the mVoice G2 hybrid will no longer be made

We have become accustomed to hearing about the demise of lesser-known wearable technology startups. In recent years, a number of companies, including Jawbone and Pebble, have gone out of business. This list can now accommodate the addition of Martian watches.

The company, which is based in the United States, has informed the backers of its new mVoice G2 watch on Kickstarter of the closure. The company says it couldn’t get enough money to finish production, which is strange since they got more than 10 times the expected $30,000 in donations.

Despite this, Martian Watches will be ceasing operations and winding down the business prior to completing all of the orders that have been placed. It looks like the company has tried to get new investment from “venture capitalists, private equity firms, and a lead investor for a significant financing round of $15 million,” but has been unable to do so. 

A select few of the more fortunate funders did, in fact, receive their devices. During the month of April, approximately 480 of them were given their units. Unanswered is the question of what will become of the approximately 1,500 other items that were awaiting delivery. It is safe to say that they are not very happy with how things are right now.

Unfortunately, contributing to projects on Kickstarter and other sites similar to it is a gamble, and there are no assurances that the product will be delivered or that you will get your money back. When taking into consideration that Martian Watches has been in business since 2007 and has, during that time, successfully introduced the Martian Notifier and the Martian G2G, this project appeared to pose a lower risk.

The note that was distributed to Martian’s backers indicated that the company intends to provide an update regarding its subsequent measures within approximately one month. However, it does not appear that they will be recouping their losses and getting their money back. Especially taking into consideration the fact that the corporation has indicated it does not have adequate liquid assets to pay out all of its obligations,

Keep an eye out. When we have further information, we will add it to this post and update it.

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