Vreal, a Seattle-based Virtual Reality startup announced that it was shutting down.
According to techcrunch, the startup, which was founded in 2015, spent VR’s most hyped years building out their live-streaming tech. The Seattle startup raised cash from investors including Axioma Ventures, Upfront Ventures and Intel Capital. Vreal raised an $11.7 million Series A in early 2018. The team posted the message on their website
Moving on to new realities… Vreal started with an ambitious idea – VR is immersive, and VR content should be immersive too. For those that are a part of the VR community, it’s always inspiring to see the wonder and awe on a friend’s face when you first put them in your VR headset. VR is magical, and the Vreal team wanted to share that magic with everyone.
We achieved that, and we are incredibly proud of the work we’ve done. Unfortunately, the VR market never developed as quickly as we all had hoped, and we were definitely ahead of our time. As a result, Vreal is shutting down operations and our wonderful team members are moving on to other opportunities.
It’s been an incredible journey and we want to thank our community, our partners and investors for the support they’ve given us along the way. We will be keeping the Discord server open for a week or so if anyone has any questions or wants to connect.
Much love from the Vreal team