CastAR, a tenacious AR startup based by former Valve workers, has reportedly shut down a pair days in the past laying off round 70 of its workers. In keeping with stories from Polygon, CastAR failed to lift extra capital from former buyers and new alike.
CastAR was house to an inside studio known as Eat Sleep Play which was made up of nice expertise to provide immersive experiences. The corporate has now locked up its doorways at their Palo Alto headquarters and their Salt Lake Metropolis workplace.
There’s a core group of workers who’re working in the direction of promoting what stays of the corporate and it’s developed expertise. The corporate was first shaped again in 2013 by Jeri Ellsworth and Rick Johnson who left Valve with permission to take their AR analysis with them. Initially referred to as Technical Illusions, they initially raised over one million on kickstarter which first fueled their flames.
Later, that they had some nice talks with an funding group known as Playground World to lift $15 million in capital. The corporate had bold plans on releasing their very own AR glasses in the direction of the tip of this yr.
That is one other high-profile start-up to recently shut down throughout the VR and AR house. We’ll present updates with additional data.