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- Microbiome testing startup uBiome announced Wednesday it was filing for bankruptcy after months of controversy and federal investigations into its testing procedures and billing practices.
- According to data from Pitchbook, uBiome is the fourth-largest startup whose business hit a wall so far in 2019.
- Consumer robotics maker Anki was the highest valued startup to go under and announced it was shutting down in May.
- Here are the top 11 startups that went bust so far in 2019.
- Visit Business Insider's homepage for more stories.
A shadow is falling over Silicon Valley, and some of its most promising startups are crumbling under the pressure.
Just this Wednesday, high flying microbiome startup uBiome announced it was filing for bankruptcy after months of controversy and federal investigations into its testing procedures and billing practices.
The startup, which claimed to test users' stool samples using cutting edge medical technology, had raised more than $104 million in private venture capital from top firms like 8VC and Andreessen Horowitz. Before filing Chapter 11 on Wednesday, the buzzy startup was worth more than $600 million, according to Pitchbook data.
But as flame outs go, uBiome is hardly the exception to Silicon Valley's rule. In fact, the company was only the fourth largest to hit a wall so far in 2019. The top 11 startups that either filed for bankrtupcy or shut down entirely raked in more than $889 million in private venture capital during their lifetimes, and range from consumer robotics makers and blockchain startups all the way to comic book inspired monthly subscription boxes.
Although concentrated in California's Silicon Valley, startups around the country were not spared from the financial Grim Reaper. Two Maryland-based startups bit the dust, as did others in Virginia and Boston, Massachusetts.
Here are the 11 most valuable startups that have gone under so far in 2019, according to Pitchbook data.
11. Tribogenics — X-ray imaging technology
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Year founded: 2009
Maximum valuation: $73.39 million
Amount raised: $29.7 million
10. bCause — Cryptocurrency investment tool
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Year founded: 2013
Maximum valuation: undisclosed
Amount raised: $31.06 million
9. Layer — Enterprise customer experience management software
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Year founded: 2013
Maximum valuation: $45 million
Amount raised: $37 million
8. xG Health Solutions — Health data analytics
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Year founded: 2013
Maximum valuation: undisclosed
Amount raised: $40 million
7. Loot Crate — Comic book inspired monthly subscription boxes
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Year founded: 2012
Maximum valuation: $157.46 million
Amount raised: $51.53 million
6. Jibo — Artificial intelligence for robotics
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Year founded: 2012
Maximum valuation: $200 million
Amount raised: $61 million
5. Meta — Augmented reality glasses maker
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Year founded: 2012
Maximum valuation: $300 million
Amount raised: $82.67 million
4. uBiome — Microbiome testing and mapping software
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Year founded: 2012
Maximum valuation: $600 million
Amount raised: $104.63 million
3. NovaSom — At-home sleep disorder testing
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Year founded: 1992
Maximum valuation: $79.24 million
Amount raised: $113.16 million
2. Munchery — On-demand food delivery
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Year founded: 2010
Maximum valuation: $300 million
Amount raised: $123.86 million
1. Anki — Consumer robotics maker
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Year founded: 2010
Maximum valuation: $600 million
Amount raised: $224.66 million