Just a general reminder (non-specific to this situation, but it can explain many moves): Sometimes funds don't invest because of the product or the company, so

Just a general reminder (non-specific to this situation, but it can explain many moves): Sometimes funds don't invest because of the product or the company, sometimes it's just to take over another investor's position (or make the other investor's position look better). When things go really wrong, the ultimate solution is to use the company that has had a successful exit to buy a failing company.