The Lily Camera drone, which could begin recording as soon as you threw it into the air and would follow your movements automatically, has failed to materialize. The startup, which took pre-orders worth more than $34 million for its drone camera said Thursday they are shutting down the company and will issue refunds. From a report: The Lily company faced "many ups and downs" last year, the company said, adding that they couldn't secure financing for manufacturing and shipping the first batch of units. The Lily cameras were originally started to begin shipping in February 2016, but the co-founders said "software issues" resulted in a delay in the shipment. Later in October, the team gave people another chance to purchase the device, adding that stores will re-open in 2017. As of last month, the company hadn't shipped a single unit.