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Another high-flying, heavily funded AR headset startup is shutting down

While Apple and Microsoft strain to sell augmented reality as the next major computing platform, many of the startups aiming to beat them to the punch are crashing and burning.

Daqri, which built enterprise-grade AR headsets, has shuttered its HQ, laid off many of its employees and is selling off assets ahead of a shutdown, former employees and sources close to the company tell TechCrunch.

In an email obtained by TechCrunch, the nearly 10-year-old company told its customers that it was pursuing an asset sale and was shutting down its cloud and smart-glasses hardware platforms by the end of September.

“I think the large majority of people who worked [at Daqri] are sad to see it closing down,” a former employee told TechCrunch. “[I] wish the end result was different.”

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The company’s 18,000+ square foot Los Angeles headquarters (above) is currently listed as “available” by real estate firm Newmark Knight Frank. The company’s Sunnyvale offices appear to have been shuttered sometime prior to 2019.

Daqri’s shutdown is only the latest among heavily funded augmented reality startups seeking to court enterprise customers.

Earlier this year, Osterhout Design Group unloaded its AR glasses patents after acquisition talks with Magic Leap, Facebook and others stalled. Meta, an AR headset startup that raised $73 million from VCs including Tencent, also sold its assets earlier this year after the company ran out of cash.

Daqri faced substantial challenges from competing headset makers, including Magic Leap and Microsoft, who were backed by more expansive war chests and institutional partnerships. While the headset company struggled to compete for enterprise customers, Daqri benefitted from investor excitement surrounding the broader space. That is, until the investment climate for AR startups cooled.

Daqri was, at one point, speaking with a large private-equity firm about financing ahead of a potential IPO, but as the technical realities facing other AR companies came to light, the firm backed out and the deal crumbled, we are told.

As of mid-2017, a Wall Street Journal report detailed that Daqri had raised $275 million in funding. You won’t find many details on the sources of that funding, other than references to Tarsadia Investments, a private-equity firm in Los Angeles that took part in the company’s sole disclosed funding round. We’re told Tarsadia had taken controlling ownership of the firm after subsequent investments.

In early 2016, Daqri acquired Two Trees Photonics, a small UK startup that was building holographic display technologies for automotive customers. The UK division soon comprised a substantial portion of the entire company’s revenues, sources tell us. By early 2018, the division was spun out from Daqri as a separate company called Envisics, leaving the Daqri team to focus wholly on bringing augmented reality to enterprise customers.

The remaining head-worn AR division failed to gain momentum after prolonged setbacks in adoption of its AR smart glasses, including difficulties in training workers to use the futuristic hardware, a source told TechCrunch.

All the while, the company’s leadership put on a brave face as the startup sputtered. In an interview this year with Cornell Enterprise Magazine, Daqri CEO Roy Ashok told the publication that the startup was forecasting shipments of “tens of thousands” of pairs of its AR glasses in 2020.

Daqri, its founder and several executives did not respond to requests for comment.

Google AR search now pulls animals off the screen and into your room

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Is that a panda in your living room?

Yes, yes it is. Google mobile search for different animals on smartphones now brings up the option to view them as augmented reality images that you can place into your surroundings, whether that’s your backyard, on the couch next to your brother watching TV, or in the middle of the kitchen.

According to 9to5Google, as of this week, searches for lions, tigers, bears, alpine goats, timberwolves, European hedgehogs, angler fish, emperor penguins, and giant pandas bring up a 3D image within search that can then be “transported” into your reality through an AR filter. Searches in Chrome or the Google app bring up a 3D card on the screen.  Read more…

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Microsoft HoloLens delivers first ever augmented reality Easter Egg hunt

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Easter Sunday is just hours away, and since it’s 2017, and we’re apparently living in the future, Microsoft has unveiled the first ever augmented reality Easter Egg hunt. 

The game was unveiled this weekend in Los Angeles at the VRLA conference where Microsoft and a team of AR developers allowed me to enter a surrealist forest construct where holographic eggs could be found using the HoloLens headset. 

While the rest of the world can only see the physical environment of the forest room space, using the HoloLens I was immediately presented with a living landscape, filled with the sounds of birds, animated flowers and rabbits furtively scurrying around the space. And when I discovered my first Easter Egg, the egg responded to my gaze by exploding open into a Disney-like flourish of color and sound.  Read more…

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Confirmed: Magic Leap acquires 3D division of Dacuda in Zurich

magicleap-shutterstock_344631905 Magic Leap, the augmented reality startup that has raised $1.4 billion in funding but has yet to release a product, has made an acquisition to expand its work in computer vision and deep learning, and to build out its operations into Europe.
The company has acquired the 3D division of Dacuda, a computer vision startup based out of Zurich. One of Dacuda’s focuses had been… Read More

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Let's turn off Magic Leap's mixed reality hype machine

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There is vaporware and then there’s oh-shut-up-and-just-release-the-damn-product-ware. The latter is what many have come to think of when the name Magic Leap is mentioned. 

And with good reason.

Founded back in 2011, the hype train for what many believe is an augmented reality headset or glasses company left the station around 2014. Since then, the company has racked up investments from the likes of Google and others amounting to over $1 billion, as well as tantalizing testimonials from high-profile names who have tried the technology and have indicated that it’s so impressive it may change computing forever.   Read more…

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