A photographer-focused camera gear startup born out Y Combinator that raised close to $6 million over its lifespan, Lumoid, has officially shuttered per a Facebook post from CEO and founder Aarthi Ramamurthy. This is the culmination of a months-long process according to the Facebook post, with much of Lumoid’s IP and assets having been liquidated in the past several weeks.
While the company website is still online as of publication, gear rental services cannot be completed as its inventory is shown as being out of stock when a user attempts to rent equipment.
An article on technology industry website TechCrunch describes a failed deal with Best Buy that contributed to the company’s end.
The deal was initially revealed this past summer and promised Best Buy customers the ability to rent camera gear in store. When the company could not obtain the necessary funding to scale their services to accommodate Best Buy’s demand, Ramamurthy decided to end operations.