The technologies behind Virtual and Augmented reality are advancing at a fast pace and there is a lot of hype in the sector. However, the business models to leverage the emerging technologies are yet to mature. Despite advances in virtual reality technology and plenty of hype, the medium has yet to take off in the way its advocates envision.

Daqri a startup that built enterprise-grade AR headsets reportedly sent an email to its customers stating that it’s pursuing an asset sale and will be shutting down its cloud and smart-glasses hardware platforms by the end of September.

There is so far no specific reason for the shutdown. However, media reports indicate that DAQRI is having difficulties in selling its products and of investors being less interested in funding AR start-ups. Daqri is the latest heavily funded, enterprise-focused augmented reality startup to struggle or shut down recently. A while ago there was news that Osterhout Design Group was unloading its AR glasses patents and Meta was selling its assets after it ran out of cash.

About the startup: DAQRI, the leader in Professional Grade AR™, was hoping to empower workforces to be more effective. With head offices in Los Angeles, California and Dublin, Ireland, they were providing a complete hardware, software, applications, and partner ecosystem to bring AR to scale.

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Also of interest – Virtual Hangouts Startup AltspaceVR faces Slow VR Growth

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