Phantom Auto, a remote driving startup in the autonomous vehicle industry, is shutting down after seven years, laying off its entire workforce of just over 100 employees. The shutdown, announced in March 2024, resulted from the company's inability to secure new funding in a difficult market, despite having raised $95 million total and nearing a deal. At its peak, the company employed about 120 people. This closure reflects broader challenges in the AV sector, where fading investor buzz and missed deployment timelines have led to a wave of consolidations and shutdowns.
