The 2018 ourCrowd investment in uBeam has disapeared from theOurcrowd website
https://www.ourcrowd.com/companies/ubeam The site has been updated to say they only invested $4,830,407 “in one previous round” that happened in 2015, the 2018 round is not there anymore.
During the Ourcrowd summit, (3 months ago) ourcrowd said they invested (before the summit) $6.5 in uBeam (this was after Meredith "decided" to quit)
Looks like ourCrowd did raise $3m for an investment in uBeam in 2018
(see
=https://www.sec.gov/Archives/edgar/data/1658187/000146581818000005/xslFormDX01/primary_doc.xml) .
My take on this is:
OurCrowd did raise $3m in 2018, but the money was 100% in some kind of escrow pending some milestone (uBeam did file investement docs to the SEC so they did receive the money).
a few months ago ourCrowd were planning to release ~50% of the escrow, probably hoping the new CEO would cure the company.
2 weeks ago, they decided not to release the escrow and take the money back, essentially killing the company (and the new CEO's CV)
Escrows being escrows, my guess is that ALL the investors in the second round pulled their investment.
A quick review of websites of the 2018 round shows....
Andreessen Horowitz (uBeam not found on website search)
Upfront Ventures (ubeam still on their website)
Founders Fund (nothing on search)
Ludlow Ventures (still there with a picture of Meredit).
Mark Cuban also participated, and appears he still keeps this line on his CV.