Vinaya
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Vinaya was a London tech startup founded in 2013 by Kate Unsworth, designing internet-connected jewelry — Bluetooth-enabled rings, bracelets and necklaces that subtly alerted the wearer to calls and messages through vibrations, aiming to help people stop staring at their smartphones and find 'digital balance.' The company raised a $3 million seed round in November 2014 from 17 investors including Bebo co-founder Michael Birch and former Index Ventures partner Robin Klein, employed 40 people across London, New York and San Francisco, and later developed the Zenta biometric bracelet, which tracked heart rate, sleep and emotional state and was crowdfunded on Indiegogo.
02 / Vinaya FAILURE REASONS
Failure reasons
Vinaya planned to raise a $10 million Series A in early 2016 but first sought a $2 million convertible bridge, saying it needed the money to prove it could ship its product and earn the valuation it wanted. The larger round did not materialize; the company instead turned to Indiegogo crowdfunding for its Zenta biometric bracelet. By December 2018 the company was out of business, with its final recorded deal listed as a bankruptcy administration/reorganization.
03 / EVENT HISTORY
Events in the structured record
- Founded
Vinaya was founded in London in 2013 by Kate Unsworth, designing internet-connected jewelry.
- Seed round
The company raised a $3 million seed round from 17 investors including Michael Birch and Robin Klein, employing 40 people across London, New York and San Francisco.
- Zenta crowdfunding
Vinaya launched its Zenta biometric bracelet on Indiegogo, aiming to raise over $100,000 to prove it could ship a product.
- Bankruptcy
The company went out of business; its final recorded deal was a completed bankruptcy administration/reorganization on December 14, 2018.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
In 2014 Vinaya raised a $3 million seed round from 17 investors to develop its connected jewelry line.
- 02
The company planned a $10 million Series A in early 2016, first seeking a $2 million convertible bridge to prove it could ship product.
- 03
Vinaya turned to Indiegogo crowdfunding for its Zenta biometric bracelet.
- 04
The larger funding round never materialized.
- 05
On December 14, 2018 the company completed a bankruptcy administration/reorganization; it is listed as out of business.