AI Startup Melon to Shut Down Amid Fundraising Challenges

AI startup Melon, known for creating a 'brain twin' using AI, is set to shut down on March 24. Despite raising $1.5 million, founder Sanne Fouquet cited challenges in gaining traction and attracting further investment. This decision reflects a tough consumer fundraising environment, exemplified by a historic decline in VC funding. VC firms are increasingly wary of consumer investments, especially in social media, due to revenue visibility concerns.