Vreal, a US-based virtual reality livestreaming platform developer that counts mobile game producer Akatsuki and semiconductor and data technology producer Intel among its investors, is to cease trading.
Founded in 2015, Vreal created a platform that allowed users to connect to VR environments in game streams, and to explore them as a passive observer in other users’ games through either a VR headset or 2D computer monitor.
In a message announcing the closure on its website, Vreal blamed slow market adoption of VR technologies.
The news comes just six months after an $11.7m series A round for Vreal that was led by Axioma Ventures and backed by Intel subsidiary Intel Capital and Akatsuki’s Entertainment Technology Fund as well as Upfront Ventures, CRCM Ventures and Vulcan Capital.
The company had previously secured $3.3m in a 2015 seed round featuring Vulcan Capital, Upfront Ventures, Presence Capital, IT Farm, Dawn Patrol Ventures and various angel investors.