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Photo: Courtesy of Spatial

Spatial, a company that creates team workspaces in virtual and augmented reality, has landed $14 million in new funding, bringing its total raised to $22 million.

Why it matters: Spatial has some impressive technology, but will likely need to play a long game, as VR adoption has proven slower than once hoped.

  • The company is working with a handful of early customers, including Mattel, Purina and BNP Paribas.
  • Investors include iNovia, Lerer Hippeau, Expa, Whitestar Capital, Kakao Ventures, Baidu Ventures and Instagram co-founder Mike Krieger. 

My thought bubble: The most interesting thing about Spatial is the way it works across phones and different VR headsets, including Oculus, Microsoft Hololens and Qualcomm's new XR2 reference design. I had the chance to try it out last year at Snapdragon Summit, and the cross-platform capabilities are impressive.

Go deeper: The complicated future of augmented and virtual reality

Go deeper

Felix Salmon, author of Capital
36 mins ago - Economy & Business

Investors pour millions into immersive, interactive art experiences

Photo Illustration: Megan Robinson/Axios. Photo: Martin Bureau/AFP via Getty Images

How much would you pay for "a sleek, if pleasantly confusing, package of moods" or "a confusing tangle of disjointed installations" or even "the total erosion of meaning itself"? The answer, according to the current market-clearing price, seems to be about $35.

Why it matters: Investors are pouring hundreds of millions of dollars into ticketed experiences — immersive, interactive museum-like spaces that don't have the d0-not-touch stuffiness of traditional museums.

Special Envoy for Haiti resigns over Biden deportations

Daniel Foote testifies during a Senate Foreign Relations Committee hearing on May 26, 2016. Photo: Drew Angerer/Getty Images

The Special Envoy for Haiti on Wednesday resigned from his position, writing in his resignation letter obtained by PBS that he "will not be associated with the United States inhumane, counterproductive decision to deport thousands of Haitian refugees."

Why it matters: Ambassador Daniel Foote's resignation comes amid heightened anger over the treatment of Haitian migrants and asylum-seekers living in a temporary encampment in Del Rio, Texas — especially after images surfaced of Border Patrol agents whipping at the migrants from horseback.

First-time homebuyers shrink as prices spike

Data: National Association of Realtors; Chart: Axios Visuals

Home sales cooled as prices continued to heat up in August.

Driving the news: The share of first-time existing homebuyers (29%) last month was the smallest in two years, according to new data from the National Association of Realtors.

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