Another $1 Million Crowdfunded Gadget Company Collapses (techcrunch.com)

An anonymous reader writes: In 2012, a company raised over a million dollars on Indiegogo to build a robotic dragonfly. It was originally supposed to be delivered in 2013. Unfortunately for backers, the company seems to be struggling to complete the project. They haven't been able to resolve issues with the drone falling apart after just a few seconds of flight. Unless they locate investors soon, they're going to run out of funds to continue work at full force. They're in the process of uploading all design work and their knowledge base, in case they have to officially cancel the project. They say some part-time work will continue as long as funds allow. The TechCrunch article warns, "This is just the latest example of how consumers need to be more careful with crowdfunding. There are no guarantees with crowdfunding and there is more risk involved than what's advertised."