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IMAX To Shut Down Its VR Arcade Business Early Next Year

VR (virtual reality) arcades were thought to be one of the first and most convenient means that costly VR headgear would reach the people. But IMAX, the biggest-profile supplier of VR arcades, has made a decision to pull off the plug. The huge-format cinema firm has formally declared that it will be closing down its final 3 locations in Bangkok, Los Angeles, and Toronto early in 2019, and is closing its VR business too.

That is according to the media, which spotted the news in a regulatory filing by SEC and got a more thorough statement from spokesperson at IMAX too:

“With the roll out of the IMAX VR center pilot initiative, our aim was to trial a series of various locations and concepts to decide which methods work well. After a test period with VR centers in multiplexes, we have made a decision to end the IMAX VR centre pilot initiative and shut down the rest of 3 locations in quarter one of next year,” claims the statement by the company.

On a related note, Varjo earlier declared that it has lifted $31 Million in a series B funding round spearheaded by Atomico, with participation from EQT Ventures, Next 47, and Lifeline Ventures. Varjo is a Finnish company, which is developing a high resolution VR and XR (mixed reality) headset that promises clarity similar to the human eye.

“Conventional” VR headsets are specifically clear enough for many use cases, such as playing some games or watching a football match. But if you ever wish to identify subtle tones between shades of color or get up near and read some text on a virtual document, then something a tad more high-resolution will probably be in order.

Established in 2016 out of Helsinki, Varjo is aiming at number of industries with a super high-res software and headset that commits to assist firms conduct tasks that normally need a detailed view, but from inside a realm.