Adrian J Cotterill, Editor-in-Chief
It looks like UK startup Ultraleap is in real trouble as news trickles out that it is halving its workforce.
An Ultraleap spokesperson said “Since the company was established in 2019, Ultraleap has gained international recognition as the leading innovator in mid-air haptic and hand tracking technologies. During this period, customer needs and behaviours have continually evolved and we need to adapt our strategy to reflect these changes. After much consideration, we have made the difficult decision to reshape some of our divisions and reduce the size of our team. This decision has not been taken lightly, but it is necessary for us to adapt our business to better serve our market and our customers. We deeply appreciate the hard work and dedication of everyone who has contributed to building Ultraleap.”
It looks like Ultraleap, formerly Ultrahaptics (who acquired Leap Motion in May 2019 and then rebranded six months later) will spin out its ‘haptics’ arm into a new company that would be owned by Ultraleap’s existing shareholders once a buyer for its hand-tracking business is found.
The ‘new’ haptics business would then seek to raise additional external funding, according to sources.
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