Meta buys Berlin start-up - and shuts it down

The parent company of Facebook and Whatsapp acquired Lofelt to make headway in the field of virtual reality. Shortly after the takeover, the start-up apparently had to close down.

The parent company of Facebook, Whatsapp and Instagram, Meta, has acquired the Berlin-based start-up Lofelt. Shortly after, the start-up had to close its doors, as several media outlets, including the Wall Street Journal, reported in unison. According to the reports, the haptics startup already closed its doors several months ago. Now it became known that the acquisition of Meta was the reason.

The company, founded in 2014, had already attracted attention with its products some time ago. For example, the Berlin-based company had a wristband that could imitate a subwoofer by means of haptic effects. Larger companies from the gaming sector also relied on the technology to offer gamers the most realistic experience possible.

According to the Wall Street Journal, Meta acquired the startup back in June, including some members of the 25-person team. In the past, Lofelt had already raised several million euros from investors.

The startup's website states, "Lofelt is now embarking on a new adventure, and we will be phasing out our products on July 7, 2022. We really appreciate the support and feedback you've given us since we launched Lofelt Studio." It goes on to say, "We have enjoyed working with all of you on our first product, the Basslet, our broadband haptic voice coil actuators, and most recently on the development of our haptic design apps for desktop and mobile platforms. We want to make sure you have enough time to finish all the projects you started with Studio and say goodbye to our tools."