Computer vision startup Brodmann17 facing liquidation
Computer vision startup Brodmann17 facing liquidation
Former employees have filed a request with the Tel Aviv District Court, claiming they are owed money after the company shut down earlier this month
Two former employees at computer vision startup Brodmann17 filed last Thursday a request with the Tel Aviv District Court to begin insolvency proceedings and liquidate the company.
The request states that on December 8 of this year the entire workforce at Brodmann17 received layoff letters due to the company’s inability to continue and pay salaries. According to the request, when the employees approached company representatives requesting to receive compensation and the remainder of their salaries, they were told: “Our client doesn’t have an ability to pay its entire debts. Due to the circumstances we advised the company to stop all payments to creditors, suppliers, and employees, until someone is appointed to oversee the matter, in order to prevent preferential treatment, or any other claims.”
As of now only two employees are part of the proceedings, but additional employees who are owed money, including unpaid salary, are expected to add their names to the request.
CEO Adi Pinhas wrote on LinkedIn two weeks ago that all the company’s employees, totaling almost 30, were laid off. Founded in 2016 by Pinhas, Amir Alush (who left the company in June 2021), and Assaf Mushinsky, Brodmann17 developed software for computer vision applications for automated vehicles. The company raised a total of $30 million, including an $11 million Series A funding round led by OurCrowd in 2019. Venture capital fund Maniv Mobility, Samsung’s venture capital arm Samsung NEXT, and Sony Innovation Fund also participated in the round. Brodmann previously raised a $2.5 million Seed round in 2017.
“The team here is moving on and I wish them the best of luck and success. And if what we developed here will fertilize the industry globally, then we have no regrets about anything,” Pinhas wrote in his post.
