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Notion Ink Adam delayed, this time investors are to blame (updated!)

Notion Ink Adam delayed, this time investors are to blame (updated!)
Joanna Stern
Joanna Stern|August 10, 2010 11:09 AM
The last time we brought you news of Notion Ink's long awaited Adam things weren't looking good, but we had some hope since its CEO Rohan Shravan assured us that it would hit some markets in Q3. He also promised that a pre-order page for the Tegra 2-powered, Pixel Qi-sporting slate would launch soon. It really does pain us to say this, but it doesn't look like any of that's going to be happening anytime soon -- we've received word that the company has lost a great deal of cash and that some of its major investors walked away a few weeks ago. As we've heard it, the company missed its July / August timeline to ramp up manufacturing because of a very big loss from an early investor. As such, the India-based company had to look for new funding, and apparently seek out a new manufacturer. We're told they've secured more cash now, but things are on shaky ground. Shravan wouldn't comment on the news, but he did tell us that he still plans to bring the Adam to market before the end of 2010. We admire that persistence and certainly believe the Adam is one of the more innovative tablets out there, but we're gonna hold on to these tissues until we see an order page and some real evidence that things are turning around for the start-up.

Updated: Slashgear has an in-depth rundown of Notion Ink's saga. We've still been told that the company has been delayed in bringing the Adam to market because of funding issues, though it has now acquired more cash. Apparently, if all goes as planned, it will begin manufacturing in November and ship later that month or in December. That lines up with what Shravan told us, but again, we will believe it when we see it.

Update 2: Here's Shravan's official statement...
"We will have the device before the year ends. It will be introduced at a major event after which you can order it online. It has to be placed strategically, as this is our maiden effort. Whatever has happened cannot be changed, but with the support we are getting from all, we might just become a part of the history. Also on the pricing, all the 3 devices will be lower than even the basic model of iPad."