I would declare the startup failed. You have two company-ending problems, one of which is unprofitability and a lack of investment funding, and one of which is the fact that it sounds like you work with a total douche. Odds seem slim that you will solve both at once. Even if you get an infusion of funding, you still have Mr. Douche to deal with (and of course he'll take the credit for getting the funding too), and life's too short for that kind of stress. However, on the other hand, if you did get more funding, it might suddenly become worth it to try to work out the problems with him. Which might include some that you're contributing to, and therefore have control over. But unless funding arrives, I would advise you to take the lessons from this business experience (including, don't go into business with this person or anyone like him), cut your losses, move on as quickly and cleanly as possible (pay off anyone you can who needs paying[1]) and go find something more exciting & fun to do!

Another potential lesson: Michael Gerber in "The E-Myth Revisited" recommends parsing out all the different roles in the company: CEO, CTO, Director of Sales and so forth... all the roles you imagine being there after it "scales up." Because guess what, they are there before you scale up too, each one just doesn't take up 40 hrs a week yet. So if you're a sole proprietor, you end up handling like 10 jobs or something. (Gerber says literally draw an org chart, and then write your own name everywhere.) It seems like playtime/fantasy but it's to remind you you have all these different jobs to do, so don't drop any of the balls. And as you grow and hire people you offload/delegate specific duties to them.

Anyway if your company is made up of more than one person, you can probably see by now that defining roles and responsibilities is even more important. Sounds as though there has been a poor definition of the roles, and/or a violation of the expected roles. For example your partner seems to have declared himself CEO (except his own fantasy version of one, rather than a grown-up value-adding one who fulfills his promises) and made you, I guess, the CTO? The ideal time for assertively correcting this was before it happened (see above), or failing that, as soon as it started happening, or failing that, as early in time as possible. It will never again be as early as it is right now, so now's the time.

Is there a possibility of getting the many people who hate him to vote in a meaningful and legally-binding way to oust his ass? That would be cool. Or we're talking a focused group intervention along the lines of the ones they do for drug addicts. The guy sounds (from your admittedly one-sided view) like a narcissist and/or con-artist though, so he may actually have no interest whatsoever in working on or saving any "relationship."

[1]https://en.wikipedia.org/wiki/Fugazi#Business_practices - "Occasionally, Fugazi would have an unrepentant slam-dancer escorted from the concert, and give them an envelope containing a $5 refund (the group kept a stock of such envelopes in their tour van for these occasions)." (The point being, use money, if necessary, to pay for a clean break that is fair and non-complainable by the "breakee.")