MegaBots Throws in The Towel on Mecha Battles, Plans for Bankruptcy

posted on by Lynzee Loveridge

The dream of a giant robot battle league has reached an end. The U.S.-based MegaBots put its giant Eagle Prime mecha up on eBay to sell to the highest bidder in the hopes of paying off some of the company's loan before filing for bankruptcy. The once formidable robot is pulling in over US$100,000, a steal compared to the US$2.5 million raised to build the behemoth.

MegaBots creators Matt Oehrlein and Gui Cavalcanti completed a successful Kickstarter campaign in 2015 and subsequentlyduked it out with Suidobashi Heavy Industry's million-dollar Kuratas in 2018. The plan was to start a Giant Fighting Robot League with Chinese company GREATMETAL and a Canadian company on board as future contenders, but it looks like the plans are scrapped. Oehrlein and Cavalcanti announced the closure of their production company on September 23.

Oehrlein explained the company's financials in the above video. The MegaBots founder spoke frankly, stating that he was unable to make the company profitable and after taking out a loan out three years ago, they are not able to pay the interest payments on the loan. MegaBots is currently selling off its remaining assets before filing for bankruptcy.

Source: MakeZine (Mike Senese)

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