US-based device-maker Humane is reportedly considering a sale of the business with a price of up to $1 billion, a move which comes just months after it commercially launched an AI wearable.

Bloomberg reported the start-up has turned to financial advisers to aid a sale process, with hopes of securing between $750 million and $1 billion for the business.

Humane launched the wearable Ai Pin at the end-2023, touting the small device as having the potential to eventually replace smartphones.

It worked with Qualcomm, Microsoft and OpenAI to assemble the wearable’s AI system capable of basic functions expected from a mobile phone via voice commands.

The launch of the $699 Ai Pin however faced was met with negative reviews due to software allegedly not working properly, an issue which rendered some of its features too complicated to navigate.

Bloomberg’s sources said the process of potentially selling the business is still at an early stage and may not result in a deal.

The start-up was reportedly valued at $850 million as of 2023, and to date it had raised $230 million of funding from investors including OpenAI’s CEO Sam Altman, Microsoft, operator SK Networks and the VC arm of carmaker Volvo.

Humane was founded by former Apple executives Imran Chaudri and Bethany Bongiorno.