After a six-year run that saw it raise $100 million in funding, it appears that augmented reality startup Jaunt Inc. is winding down.

A terse press release published today revealed that Jaunt’s technology and “certain other assets” have been bought by Verizon Communications Inc. for an undisclosed sum. The startup said the acquired assets include its software but didn’t go into further detail. A spokesperson declined to say whether Jaunt will continue to operate after the deal completes.

San Mateo, California-based Jaunt started out in 2013 as a virtual reality video studio. The startup soon pivoted and used its expertise to build VR video production tools for other companies, including a camera called the Jaunt One. The system included 24 separate lenses that worked together to record 360-degree footage at cinema-grade resolution.

In 2018, Jaunt pivoted again to augmented reality by introducing a “portable volumetric capture” platform dubbed the XR Cast. The system could scan a user and generate a high-fidelity virtual avatar for use in AR applications. However, it appears that the new market focus didn’t bear fruit: TechCrunch reported that Jaunt started selling off office furniture later in the same year.

The Verizon acquisition means that Jaunt’s technology will at least continue to find use. The carrier has been dabbling in producing immersive ads, teaming up with National Geographic last year to develop a VR marketing campaign for a new TV series. Verizon also owns a specialty studio called RYOD that focuses on creating immersive content. 

“We are thrilled with Verizon’s acquisition of Jaunt’s technology,” Jaunt Chief Executive Officer Mitzi Reaugh said in a statement. “The Jaunt team has built leading-edge software and we are excited for its next chapter with Verizon.”

Bigger opportunities may start emerging for AR and VR startups as the underlying hardware continues to mature. The technology is seeing growing adoption in the industrial sector, while consumer-grade headsets such as Facebook Inc.’s recently upgraded Oculus Quest are slowly but surely becoming more capable, one update at a time. 

Photo: Jaunt