Redwood City, California-based AltspaceVR, the social platform for virtual reality, said in a blog post that it would shut down on Aug. 3. “It looked like we had a deal for our next round of funding, and it fell through,” the blog post says. “Some combination of this deal falling through and the general slowness of VR market growth made most of our investors reluctant to fund us further.” The company was founded in 2013 and raised $15.7 million, the website says. AltspaceVR’s backers included Tencent, Dolby Family Ventures, Raine Ventures, Lux Capital, Western Technology Investments, Maven Ventures, Rothenberg Ventures and Comcast Ventures.