While the tech industry is hot in pursuit of mainstream smartglasses for consumers, another early maker of enterprise-focused AR hardware has apparently met its end.
Following the fate of ODG and Meta Company, augmented reality hardware maker Daqri has apparently run out of runway and is shutting down.
Word around the AR insider campfire is that the company is in the process of selling off its assets after closing its main office and eliminating most of its jobs.
Corroborating emails obtained by TechCrunch is a real estate listing for Daqri's office space, which spreads across 18,000 square feet in Los Angeles.
Founded in 2010, Daqri was among the first hardware makers to capitalize on the thirst for AR in the enterprise market. At one point, the company reportedly raised $275 million in funding. Daqri was able to sell its hardware to municipal, enterprise, and military customers.
Signs of trouble started to show in 2017 when the company shifted leadership from founder Brian Mullins to Roy Ashok in order to spur growth. The company eventually expanded its product line into the software side of the AR business.
While the collapse of yet another early entrant to the AR wearables race may trouble some within the space, the reality is that AR is on a growth trajectory, and Daqri's work will likely be put to good use. For instance, ODG's assets live on via Magic Leap and Meta was recently reorganized as a new company. Moreover, another failed AR startup, Blippar, also rebooted under new leadership.
Regardless, Daqri's fall from grace shows that early startups are on the clock to spin AR into gold for its investors, even as the immersive computing space continues to make major strides toward mainstream viability.
Cover image via Adario Strange/Next Reality
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