An augmented reality company that raised over $130 million is laying off staff worldwide

pulse

February 11, 2017 2:21 AM

Daqri, a buzzy LA startup, has been looking for another $200 million in funding since October.

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Augmented reality helmet maker Daqri is cutting about 25% of its nearly 330-person-strong workforce worldwide, multiple people have told Business Insider, or about 80 people.

Daqri remains committed to bringing AR Everywhere. Given the rapid changes in our industry, that mission sometimes requires a reallocation of resources to support technological advancements in areas with high potential for growth. Our organizational changes this week, affecting a small fraction of the company, allow a strengthened focus on high-growth segments. In fact we are actively recruiting for more than two dozen positions. Daqri remains committed to our people, our mission of ‘redefining what is humanly possible,’ and making a lasting difference through our groundbreaking technology and products.

The company makes a helmet and AR glasses geared toward enterprises, so a sort of a direct competitor to Microsoft HoloLens. The product has been particularly buzzy in the LA startup scene.

Its offices are tucked away in downtown Los Angeles, on a floor that used to be the set of "Mad Men," as Business Insider's Biz Carson previously reported.

A person with knowlege of the matter tells us that Daqri raised "in excess of $200 million. Investment tracking site Pitchbook puts the company's total raised at $132 million, with most of that coming from Newport Beach-based Tarsadia Investments, the VC arm of the Tarsadia hotelier/real estate investment group.

As of October, the company was seeking another $200 million in funding, but we understand that that round has yet to happen.

not as high-profile as its would-be competitor Magic Leap, the super secretive AR company that's raised nearly $1.4 billion in investment, is valued at

However, Daqri was thought to be farther along with its products and generating some revenue, with orders from companies like Hyperloop and Siemens.

People are now telling us that

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