Australia-based Ninja Blocks, which manufactures home automation systems, has run out of funding, according to a recent business blog post on their website. This is despite having raised $2.4 million over three rounds, the latest being a venture round with 500 Startups, Blackbird Ventures and Singtel Innov8 participating.
This was in addition to another $550,000 received from their Kickstarter campaign, which closed in January 2015. According to the blog post, the development on its Sphere product ran overtime and over budget.
