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March 7, 2025

Tencent-backed XR startup Ultraleap sold for parts following further layoffs

The Bristol-based startup had struggled to gain commercial traction after investors poured more than $200m into the business

Tencent-backed startup Ultraleap has been sold for parts and laid off more than half of staff, following commercial struggles amid a global decline in sales in the extended reality sector. 

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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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