Humane, the AI startup responsible for the AI-enabled wearable pin known as the Ai Pin, began shipping its product in April. However, following its launch, the wearable received negative reviews. In light of this, Humane has reportedly started exploring a sale, with the company seeking between $750 million to $1 billion. The startup, which was valued at $850 million in 2023, has enlisted a financial advisor to assist with the potential sale process.
Founded in 2018 by Imran Chaudhri and Bethany Bongiorno, both former Apple managers, Humane’s Ai Pin offers smartphone capabilities in a wearable form. Priced at $699 with a $24 monthly subscription fee, the device is designed to perform tasks like making calls, taking photos, and answering questions. Despite these features, the product received harsh criticism from reviewers, including popular tech personality Marques Brownlee.
Following its rocky launch, Humane has raised a total of $100 million in Series C funding from investors such as Microsoft, Tiger Global, and Sam Altman. Despite significant investment in AI-powered wearables, few products have successfully reached consumers on a large scale. With challenges facing the wearables market, it remains to be seen how companies like Humane will fare.
In response to reports of a potential sale, Humane has not yet issued a comment. The company’s founders have expressed plans to continue refining the Ai Pin with updates in the pipeline to enhance its capabilities over time.