Having millions of dollars in backing from venture capitalists doesn’t guarantee the longevity of a startup.
Even well-established private companies are at constant risk of failure, as evidenced by some of the startups that went out of business this year. PitchBook compiled data on the 25 most valuable startups that failed in 2018; three of these companies have been around for more than 20 years and were still forced to shutter.
Startups in the healthcare industry took a big hit — seven companies on the list are in the medical sector.
The list is headed by Theranos, the blood-testing company, whose $9 billion valuation was greater than those of all the other startups on the list combined.
Here are the 25 most valuable VC-backed startups that failed in 2018:
25. SDCmaterials — automobile nanotechnology
Year founded: 2004
Maximum valuation: $48 million
Amount raised: $26 million
Read more about SDCmaterials on PitchBook.
24. Senzari — music and entertainment data intelligence
Year founded: 2010
Maximum valuation: $52 million
Amount raised: $13 million
Read more about Senzari on PitchBook.
23. Industrial Origami — industrial material manufacturer
Year founded: 2003
Maximum valuation: $58 million
Amount raised: $41 million
Read more about Industrial Origami on PitchBook.
See the rest of the story at Business Insider
Source: Business insider