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January 9, 2025

Tencent-backed XR startup Ultraleap looks to sell assets after breaching £15m loan

The move comes after a tumultuous year for the company that saw it make layoffs as it slashed spending amid falling revenue and rising losses

Ultraleap, the extended reality startup backed by Tencent, is considering selling off parts of the business after breaching the terms of a £15m loan, casting doubt on the company’s future.  

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Kai Nicol-Schwarz

Kai Nicol-Schwarz was a senior reporter at Sifted. He covered AI and UK tech.

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