This Week In XR: SXSW Winners, $350 Million For Adept AI, Tilia Raises $22 Million

It’s not yet clear how the new round of layoffs at Meta will affect its metaverse division, Reality Labs. As AI ascends the hype cycle and the Metaverse predictably descends into a trough of disillusion, the company is clearly reordering its priorities. As you can see from our special section about Meta below, schadenfreude is raining down upon them. You think Mark’s learned his lesson about hyping technologies that are a decade away from being realized?

Adept AI Is A Unicorn. The startup, founded by former Google engineers, announced it has raised $350 M to use AI to develop enterprise applications. The funding comes less than a year after it raised $65 million. The Series B round was led by General Catalyst and Spark Capital. While their valuation was not officially announced, the scale of the investment suggests Adept AI is already worth over a billion dollars. That must be some damn good AI.