DAQRI Funding, Investors & Competitors

DAQRI has raised $275M across 2 funding rounds, most recently a $260M undisclosed-stage round in July 2017.

See full DAQRI profile

Last DAQRI funding round

$260M

Undisclosed stage · Jul 2017

Cumulative funding DAQRI raised

$275M

across 2 funding rounds

Key investors in DAQRI

  • Tarsadia Investments

DAQRI Overview

About DAQRI

DAQRI was an augmented reality company, founded in 2010 by Brian Mullins, Gaia Dempsey, and Philip Tolk, that began with a consumer AR publishing platform before pivoting to enterprise hardware. Its flagship product, the Daqri Smart Helmet, targeted manufacturers with headset-based AR tools for industrial use, and the company also built holographic display technology for automotive customers through its UK-based Two Trees Photonics unit. DAQRI struggled to find product-market fit in enterprise AR and shut down in 2019, selling its remaining assets to Snap.


Founded

2010

HQ

United StatesUnited States

Website

daqri.com

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

DAQRI Funding History

DAQRI has raised a total of $275M across 2 funding rounds.

DAQRI's first fundraising round was a $15M Series A in June 2013. The most recent completed round was a $260M undisclosed-stage round in July 2017.

DAQRI funding rounds

DAQRI funding rounds
DateStageInvestorsRaisedDeal Summary
Jul 2017Undisclosed stage-$260MDAQRI was an augmented reality (AR) startup founded in 2010 by Brian Mullins, Gaia Dempsey, and Philip Tolk, initially releasing an AR publishing platform in 2011 that superimposed images or videos over smartphone cameras via QR codes. The company pivoted to enterprise AR solutions, unveiling the Daqri Smart Helmet at CES 2016 for $15,000 targeted at manufacturers, and acquired 1066 Labs and Two Trees Photonics to bolster its hardware capabilities. By mid-2017, DAQRI had raised between $260 million and $275 million in total funding, with the latest round on July 21, 2017 described as private equity from Tarsadia Investments, which took controlling ownership. Tarsadia Investments began supporting DAQRI after a $5 million valuation in a 2013 asset transfer, following an initial $15 million raise, leading to cumulative investments reaching $275-300 million by 2017. The July 2017 round contributed to this total, positioning DAQRI as a high-profile AR player alongside others like Meta and Osterhout Design Group. However, challenges emerged with a February 2017 layoff of a quarter of staff, CEO Brian Mullins stepping down in October 2017, and co-founder Gaia Dempsey departing soon after. In early 2018, DAQRI spun out its U.K. holographic display division as Envisics, which later raised $50 million at over $250 million valuation, allowing DAQRI to refocus on enterprise AR wearables. Despite heavy funding, DAQRI struggled with product-market fit, ongoing losses, and an ownership structure where executives had cashed out via Tarsadia's buyout. The company shut down in September 2019, pursuing an asset sale to Snap, reported at around $34 million, with some employees joining Snap's Vienna office.
Jun 2013Series ATarsadia Investments (lead)$15MDAQRI developed augmented reality technology initially for consumer campaigns with brands like Twentieth Century Fox, Matchbox 20, and Sony, later pivoting to enterprise applications such as manufacturing and the Daqri Smart Helmet priced at $15,000. In May 2013, the company was valued at $5 million during an asset transfer that attracted Tarsadia Investments' attention. Tarsadia led a $15 million Series A round announced in June 2013, marking the start of its heavy involvement, which atypical for VC included effectively buying out the company rather than taking a minority stake. This structure left executives and employees with limited ownership incentives. DAQRI raised a total of $275 million to $300 million from Tarsadia by 2017 but shut down in 2019, selling assets to Snap.

Who has invested in DAQRI?

1 investor has backed DAQRI across its funding rounds, including Tarsadia Investments.

Lead investors include Tarsadia Investments.


DAQRI Investors

Investors in DAQRI by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by DAQRI

DAQRI has acquired 4 companies to date.

Last acquisition by DAQRI was on March 29th 2016. DAQRI acquired Two Trees Photonics for undisclosed valuation.


Latest Acquisitions by DAQRI

Two Trees Photonics
1066 Labs
ARToolworks
ThinkMelon
Description
Two Trees Photonics is a developer of holographic display technologies using phase-only holography and spatial light modulators. It produces systems for bright, high-saturation projections in automotive, entertainment, and advertising markets. The firm's algorithms enable advanced light manipulation for volumetric imaging applications.
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ARToolworks is a Salt Lake City-headquartered pioneer in marker-based augmented reality tracking software. The company first demonstrated ARToolKit at Siggraph in 1999 and released it under open-source GPL license in 2004. Its products support five operating systems, multiple CPU architectures, six programming languages, and various APIs, alongside commercial licensing for enterprise applications in AR development.
ThinkMelon is a neurotechnology company that developed the Melon headband for brainwave monitoring to track mental focus. Users receive real-time feedback via a companion mobile application that analyzes EEG data and delivers personalized insights for improving concentration during work or study sessions. The San Francisco-based firm draws on neuroscience research to visualize cognitive states.
HQ CountryUnited KingdomUnited KingdomUnited StatesUnited States
HQ City
Milton Keynes
-
Seattle, WA
Los Angeles, CA
Deal Date29 Mar 20161 Mar 201613 May 201519 Feb 2015
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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DAQRI Competitors

DAQRI competitors include listed companies like Kopin, Meta, BOE and Unity, and private ones like Squint and NavVis.

Public and private companies comparable to DAQRI
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
KopinUnited StatesUnited StatesPublicly listed$38M$3M$877M15.6x
SquintUnited StatesSan Francisco, CAPrivate$167M-$265M1.6x
NavVisGermanyMunichPrivate--$85M-
MetaUnited StatesUnited StatesPublicly listed$201B$104B$1.7T7.4x
BOEChinaChinaPublicly listed$31B$7B$32B1.6x
UnityUnited StatesUnited StatesPublicly listed$1.8B($18M)$18B8.8x

DAQRI Public Comps

DAQRI is still privately-owned, but its public comps include Meta, BOE, Unity, Snap, Orbbec, Sun Corp., HTC, Kopin, Cover and Surgical Science.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Meta$201B$104B8.8x7.4x17.0x12.7x
BOE$31B$7B1.7x1.6x7.5x7.3x
Unity$1.8B($18M)10.0x8.8x(1025.6x)30.5x
Snap$5.9B($300M)1.9x1.7x(37.1x)9.8x
Orbbec$140M$23M38.8x29.3x237.6x157.8x
Sun Corp.$64M-21.8x22.2x--
HTC$91M$22M6.8x6.9x27.7x(6.2x)
Kopin$38M$3M22.2x15.6x338.7x(97.7x)

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Common questions about DAQRI

When was DAQRI founded?DAQRI was founded in 2010.
Where is DAQRI headquartered?DAQRI is headquartered in United States.
Is DAQRI publicly listed?No, DAQRI is a private, VC-backed company.
How much funding has DAQRI raised?DAQRI has raised $275M across 2 funding rounds.
What was DAQRI's last funding round?DAQRI's last funding round was a $260M undisclosed-stage round in July 2017.
Who are DAQRI's investors?DAQRI's investors include Tarsadia Investments.
Which companies are comparable to DAQRI?Companies comparable to DAQRI include Kopin, Squint, NavVis, Meta, BOE and Unity.
How many companies has DAQRI acquired?DAQRI has acquired 4 companies, including Two Trees Photonics, 1066 Labs, ARToolworks and ThinkMelon.

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