Osom Products, makers of the Solana Saga blockchain phone, to shut down

September 6, 2024

Osom Products, makers of the Solana Saga blockchain phone, to shut down

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The report in Android Authority is correct, Osom is sadly shutting down. In May of 2024, having no customers for a mobile phone despite concerted efforts, Osom at the time decided to pivot to a new project. Osom was forced to let go of a number of employees at that time to reduce our burn rate.

Unfortunately, given the bleak market climate for fundraising for consumer electronics startups, we were unable to raise a new round. While some maintenance operations to ensure contractual requirements will proceed, Osom’s general operations will shut down on September 6th. – Jason Keats, CEO

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Osom Products, makers of the Solana Saga blockchain phone, to shut down

September 6, 2024

, Published By The Verge

Osom Products, makers of the Solana Saga blockchain phone, to shut down

The report in Android Authority is correct, Osom is sadly shutting down. In May of 2024, having no customers for a mobile phone despite concerted efforts, Osom at the time decided to pivot to a new project. Osom was forced to let go of a number of employees at that time to reduce our burn rate.

Unfortunately, given the bleak market climate for fundraising for consumer electronics startups, we were unable to raise a new round. While some maintenance operations to ensure contractual requirements will proceed, Osom’s general operations will shut down on September 6th. – Jason Keats, CEO

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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