GenesisAI, the AI startup that raised millions, has disappeared after making eyebrow-raising financial choices.
The company claimed to be building a global AI marketplace, but it had zero revenue and missed multiple product launch and revenue targets.
Despite no formal background in AI or engineering, the company's only executive, Archil Cheishvili, presented himself as the driving force behind GenesisAI.
After raising over $5 million through crowdfunding, with heavy marketing expenditures, the company failed to deliver a product, resulting in no revenue and leaving investors burned.