Music startup Roli has filed for administration and is reforming as beginner-focused Luminary
UK music startup Roli, best known for its squishy keyboards like the Seaboard Rise, has filed for administration and is reforming as Luminary. The new company will focus on the Lumi keyboard and app, which are designed to teach beginners to play the piano.
The news was reported by Insider, which notes that Roli has struggled with generating revenue and growth. The company reported pre-tax losses of £34.1 million ($47 million) from income of £11.4 million ($16 million) in the 18 months leading up to the end of June 2019. The company’s CEO and founder Roland Lamb told Insider that a limited market for its products had combined with pandemic difficulties to force the closure of Roli.
“Ultimately what happened was the pro-focused products…