Humane, an AI startup responsible for the AI-enabled wearable pin known as the Ai Pin, began shipping its product in April. However, following its launch, the wearable received negative reviews from reviewers and tech personalities alike. In light of this, Humane has reportedly started exploring a sale, with the company seeking between $750 million to $1 billion. The startup has enlisted a financial advisor to assist with the potential sale process.
Founded in 2018 by Imran Chaudhri and Bethany Bongiorno, both former Apple managers, Humane’s Ai Pin offers smartphone capabilities in a wearable form. Priced at $699 with a $24 monthly subscription fee, the device is designed to perform tasks like making calls, taking photos, and answering questions. Despite these features, the product received harsh criticism from reviewers and tech personalities such as popular tech personality Marques Brownlee.
Despite significant investment in AI-powered wearables by Microsoft, Tiger Global and Sam Altman among others in Series C funding of $100 million Humane is facing challenges in reaching consumers on large scale as few products have managed to do so successfully. With problems facing the wearables market it remains uncertain how companies like Humane will fare.
In response to reports of a potential sale, Humane has not yet issued a comment. However, The company’s founders have expressed plans to continue refining the Ai Pin with updates in the pipeline to enhance its capabilities over time.
