Ghost Autonomy, a company that develops autonomous driving software for consumer vehicles, has announced the closure of its operations.

The shutdown is linked to the uncertain path of long-term profitability due to the current funding climate and the considerable investment required to develop and commercialize autonomous technology. 

The startup, originally named Ghost Locomotion, was launched in 2017 with a public debut in 2019, boasting a USD 63.7 million investment from multiple investors. The company initially intended to produce a kit enabling privately owned vehicles to drive autonomously on highways. The plan was later altered to focus on crash prevention technology. The company reportedly completed a product for highway driving, with progress made toward last-mile urban delivery. However, the company had difficulty financing the years required to launch the product to market.