A robot pizza startup that raised almost $500 million has shut down, The Information reported. Zume, the robot pizza delivery startup that raised close to $500 million, has shut down, The Information reported. The company was founded in 2015 and aimed to automate the pizza-making process, but suffered a series of technological difficulties. According to The Information, Zume was "insolvent," and Sherwood Partners, a restructuring firm, had been instructed to sell the company's assets. It made a series of layoffs in 2020, cutting headcount by more than 500 employees — including all of its robotics and food-delivery truck business, Insider previously reported.

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Persons: Zume, Alex Garden Organizations: Softbank, AME Cloud Ventures, Sherwood Partners, Bloomberg