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June 18, 2020 04:45 pm

Stockwell, the AI-Vending Machine Startup Formerly Known as Bodega, is Shutting Down July 1

Stockwell AI, which raised at least $45 million, entered the world with a bang but it is leaving with a whimper. From a report: Founded in 2017 by ex-Googlers, the AI vending machine startup formerly known as Bodega first raised blood pressures -- people hated how it was referenced and poorly "disrupted" mom-and-pop shops in one fell swoop -- and then raised a lot of money. But ultimately, it was no match for COVID-19 and the hit it has had on how we live. TechCrunch has learned and confirmed that Stockwell will be shutting down, after it was unable to find a viable business for its in-building app-controlled "smart" vending machines stocked with convenience store items. "Regretfully, the current landscape has created a situation in which we can no longer continue our operations and will be winding down the company on July 1st," co-founder and CEO Paul McDonald wrote in an email to TechCrunch. "We are deeply grateful to our talented team, incredible partners and investors, and our amazing shoppers that made this possible. While this wasn't the way we wanted to end this journey, we are confident that our vision of bringing the store to where people live, work and play will live on through other amazing companies, products and services."

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