Almost certainly the case on three grounds.
(1) Getting a serious fusion effort off the ground is fabulously expensive. Even if you have some kind of whizbang micro-reactor concept you need a small army of physicists, engineers and highly skilled fabricators. People who don't come cheap.
(2) Running out of cash is what most startups do.
(3) They probably didn't have as much cash as "everyone knows they have", for the simple reason that the best way to convince someone to give you the mountain of cash you need is to make them thing you've as good as got it from someone else.