Blockchain company Skynet will be shut down for lack of funds.
Boston-based Skynet Labs, formerly known as Nebulous, has announced that it will shut down due to lack of funding.
Blockchain Company Skynet Labs Shutting Down
The company, which has collected $9.6 million in seven separate funding rounds since 2014, emphasized that it could not complete the last fundraising round in its latest statement.
The company’s CEO, David Vorick, said that Skynet, the application hosting platform associated with the company, will continue to be active.
“Fortunately, Skynet will continue to operate as a platform. All user files will remain online and important parts of the infrastructure will continue to be actively developed.”
Vorick noted that they have a very good developer team and they are deeply saddened to have to leave with this team.
The company launched SkyDB in October 2020 to develop a decentralized social media application.
Skynet Labs most recently raised $3 million in a Paradigm-led funding round in September 2020.
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