🪦 Dead
Embark Trucks
Startup failed · Capital Dried Up · shut down March 3, 2023
- Born
- Died
- Lifespan
- 7y 2m
- Cause of death
- Capital Dried Up
- Killed by
- Market
- Type
- Startup
An autonomous-trucking company that went public via SPAC in 2021 and raised more than $400 million. With no revenue and capital markets closed to pre-revenue companies, it cut 70% of staff and began liquidating its self-driving truck assets in March 2023. Its timeline for driverless freight never arrived; the money did run out.