An Israeli AI startup with Coca-Cola and Nestlé on its client list just got sold off for less than the price of a decent used car. The buyer picked up its assets for $150,000.
Swish.ai is done. The Tel Aviv-based enterprise AI company, which built an IT service management platform used by Coca-Cola, Nestlé, Amdocs and CyberArk, filed into Tel Aviv District Court insolvency proceedings and was sold in a fast-track sale to Unframe for roughly $150,000, according to a report from Calcalist. The company had raised about $20 million since its founding in 2017.
Here’s the number that should stop you: Swish.ai was pulling in close to $2 million in annual contract revenue. Real logos, real invoices, real renewals. And the court still…