Novello Technologies
Novello Technologies, Ltd. was a company that attempted to crowdfund the development of Bitcoin mining hardware via the crowdfunding platform Indiegogo, starting June 3rd, 2014, with a goal of $4,200,000[1]
Soon after it was announced, concerns regarding the viability of the project were raised at the BitcoinTalk Forum[2].
On June 12th, 2014, Novello Technologies posted on the BitcoinTalk Forum that they would be issuing refunds.[3]. On June 13th, 2014, Novello Technologies issued an e-mail to supporters of the crowdfunding campaign that the crowdfunding goal was unlikely to be attained and noted the plan for refunds as well[4]
Due to the nature of the crowdfunding campaign's funding method - flexible funding - any funds received by Novello Technologies would remain theirs to keep regardless of the outcome of the project. On July 8th, 2014, the campaign ended with approximately $6,000 in funds.
On August 5th, 2014, refunds were issued through Indiegogo.[5]
On August 11th, 2014, Novello Technologies issued an e-mail to supporters of the crowdfunding campaign that they would change their business model to perform in-house hashing using custom hardware only, to come online 'about 1 year from' the time of the e-mail.[6]
No new information has appeared since that time, and as of March 24th, 2014, their website is defunct.