Well-Funded AR Startup DAQRI Closes Doors After $275 Million Raised
DAQRI is shutting down its industrial wearables business and winding down the company despite raising $275 million in funding. The Los Angeles-based firm joins a growing list of enterprise AR headset makers that have recently failed.
DAQRI, the Los Angeles-based company known for its enterprise-focused Smart Glasses, is officially shutting down. The company confirms it is participating in an asset acquisition that puts an end to its industrial wearables business and begins the wind down of its entire operation. Both the Smart Glasses and the Worksense cloud solutions retire at the end of September.
Despite raising a massive $275 million in investment funds since its founding in 2010, DAQRI is unable to sustain its business. Former employees report that the company closes its 18,000 square foot headquarters, lays off much of its staff, and puts its main office up for rent. The Smart Glasses, which launch in late 2017 for $5,000, feature a 44-degree field of view and connect to a body-worn computer for industrial use.
DAQRI is not the only augmented reality startup facing major troubles in the enterprise space. Meta, the creator of the Meta 2 headset, announces insolvency last year before selling to Meta View, and Osterhout Design Group closes its doors this year after failed acquisition talks. Aside from the initial shutdown email, DAQRI does not make any further public statements regarding its closure.