Lytro, the US-based light-field camera developer backed by semiconductor maker Qualcomm, electronics manufacturer Foxconn and entertainment group Huayi Brothers, has shut down, it has confirmed in a blog post.
Founded in 2006 as Refocus Imaging, Lytro had developed a light-field camera that uses an array of microsensors to simultaneously capture all elements of light, colour and intensity in an image, allowing photographs to be refocused or expanded to 3D after they are taken.
The company had raised more than $200m in funding but was unable to bring down the prices of its equipment to the point where it could sufficiently reach a mass market.
Lytro said in the post: “It has been an honour and a pleasure to contribute to the cinema and virtual reality communities, but starting today we will not be taking on new productions or providing professional services as we prepare to wind down the company.
“We are excited to see what new opportunities the future brings for the Lytro team as we go our separate ways. We would like to thank the various communities that have supported us and hope that our paths will cross in the future.”
A TechCrunch report last month suggested Lytro was set to be acquired by internet technology provider Google for up to $40m, but the corporate told TechCrunch last week no such deal will take place. It will however hire some of Lytro’s team.
Qualcomm’s corporate venturing subsidiary, Qualcomm Ventures, Foxconn and Huayi Brothers all took part when Lytro last received funding, when it raised $60m in a Blue Pool Capital-led round in February 2017.
EDBI, the investment arm of Singapore’s Economic Development Board, is also a Lytro backer, as are Andreessen Horowitz, Allen & Company, Danhua Capital, GSV Capital, New Enterprise Associates, North Bridge Venture Partners and individual investor Barry Sternlicht.
– Image courtesy of Lytro, Inc.