Image Credit: ROLI

London-based music startup ROLI depart from pro hardware such as the Seaboard to focus on keyboards and apps designed for beginners.

ROLI, creators of the popular Seaboard, have filed for administration and reformed as Luminary. According to Business Insider, ROLI struggled with generating revenue and growth. In the 18 months leading up to the end of June 2019, ROLI reported pre-tax losses of £34.1 million ($47 million) from income of £11.4 million ($16 million).

CEO and founder Roland Lamb told Business Insider that a limited market for pro-focused products combined with pandemic difficulties forced the closure of ROLI:

Ultimately, what happened was the pro-focused products we initially developed, although successful within their marketplace, the marketplace wasn’t big enough given our venture trajectory. We had our eyes set on hypergrowth, and that proved to be difficult.

Roland Lamb, CEO and founder, ROLI

ROLI’s latest musical instrument the LUMI keyboard uses light up keys and an app to teach new musicians in engaging and inventive ways. Luminary wants to continue to focus on both hardware and software subscriptions via LUMI products. The LUMI colourful keyboard costs $299, while a yearly subscription for extra lessons and songs costs $79. Luminary aren’t abandoning their original products, with Business Insider reporting: “Luminary will reintroduce the Seaboard, which has been out of stock as the company plans its future.”

ROLI’s roughly 70 employees will be moving to the new business.