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November 08, 2022 | Tom Ballard

Crunchbase News reports sharp decline in funding for VR and AR start-ups

Crunchbase News reports that funding for companies in the virtual reality (VR), augmented reality (AR), and virtual worlds categories has been dropping quarter over quarter since the peak in late 2021.

Since hitting more than $2.1 billion in Q4 of 2021, metaverse-related funding has fallen to around $760 million in the most recent full quarter. The third quarter was also lower than Q1 and Q2 of 2022. On an annual basis, Crunchbase News says that it looks like 2022 is on track to come in well below 2021 for metaverse- and VR-related venture funding.

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