In what the company is calling “a very difficult time for hardware companies in the smart kitchen space, ” Tea infusion device startup Teforia is saying it is discontinuing operations today, according to its website.
The above note about it being hard for hardware companies in the smart kitchen is likely a including references to devices like the now-defunct Juicero( which raised more than $100 million in venture financing ). Teforia’s main product was an internet-connected tea infuser that could brew the pre-packaged teas from the startup, which it called “Sips.” Users pack the Sips into the company’s “infusion globe, ” and those packages expense a couple of bucks each. The price tag was very high, much like some of these other Silicon Valley solutions that look to hit people with more spending power.
“However, the reality of our business is that it would take a lot more financing and time to educate the market and we simply couldn’t create the funds required in what is a difficult time for hardware companies in the smart kitchen space, ” the company said on its website. “Therefore, it is with heavy hearts that we are announcing that all business operations, for Teforia Company, will cease effective today. We will continue to seek a partner that they are able leveraging Teforia technology and/ or provide Sips tea sales to continue our mission of elevating the tea experience. Hopefully, you will see Teforia technology in future products.”
Teforia raised $12 million just about a year ago in a financing round led by Translink Capital, with Upfront Ventures, Lemnos Labs, Correlation Ventures and Mousse Partners also investing in the company. The device was originally priced at $649 when it created $5.1 million in a seed round led by Upfront Ventures. A little more than a week ago the site listed the device’s cost at virtually $1,000( or about the cost of an iPhone X ). Users can still purchase the infuser, which now costs $200, as well as a variety of teas, until November 3.