OrCam Technologies

Dispute arose between OrCam's controlling shareholders Amnon Shashua and Ziv Aviram and institutional investors (Clal, Harel, Leumi, and Meitav) over the conversion mechanism of a SAFE financing round. Founders, who had injected around $9 million, sought to convert their investment into shares at a valuation of $30-40 million, contrasting sharply with the several hundred million dollar valuations at which institutional investors had previously invested. This dispute highlighted the company's dramatic fall from unicorn status ($1B valuation in 2018) to near-worthless valuation.

OrCam Technologies closed its reading glasses development activity for the visually impaired in July 2024, abandoning the core accessibility product that the company was founded to provide. Company stated 'technological progress in image processing by language models makes the need for further development of the Low Vision products unnecessary.' This decision left blind users who had relied on OrCam devices with a discontinued product. The company pivoted from vision technology to hearing aids, effectively abandoning its social mission after raising $86.4M on the promise of helping the blind community.

OrCam Technologies laid off 100 workers in June 2024, representing almost half of the company's remaining workforce. At its peak, the company employed about 400 workers. This was the third major round of layoffs within two years.

OrCam Technologies conducted its second round of layoffs, cutting 50 employees approximately 16 months after the first round. Company was struggling as generative AI technologies began performing similar functions to OrCam's reading devices using smartphones.

Israeli assistive technology company OrCam Technologies laid off 62 employees, representing 16% of its workforce, as part of cost-cutting measures. First round of layoffs in what would become a series leading to company's near-collapse.