A Scottish holographic video chat company has entered liquidation.
Shona Campbell, insolvency partner at business advisory and accountancy firm Henderson Loggie, has been appointed as liquidator of Holoxica, the holographic 3D visualisation company.
"Global supply chain issues, changes in trading conditions because of Brexit and the pandemic have created cashflow challenges for the company," the liquidator said.
Founded in 2008, Holoxica pioneered patented dynamically changeable holographic displays where multiple people can experience full colour motion video 3D images simultaneously without wearing headsets.
It is claimed it also created several world firsts holograms, including the first holographic 3D anatomy atlas.
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In recent months, the Scottish company had attracted international interest in its technology as a solution for providing emergency medical care in space enabling astronauts to engage with medical experts on the ground with a 3D videoconferencing tool, 3D medical animations and medical scans in natural 3D.
The 3D videoconferencing tech was demonstrated at COP26 in a 5G-to-5G 3D video chat with Nokia, the University of Glasgow and the Scotland 5G Centre.
The Holoxica "telexistence" defence technology allowed a human operator to be fully immersed and remotely "telepresent" by using robots in hazardous situations such as bomb disposal, de-mining or nuclear decommissioning.
In 2022 Holoxica developed a Human Digital Twin concept demonstrator for the UK Defence Science and Technology Laboratory (Dstl) and Qinetiq.
Shona Campbell, head of insolvency at Henderson Loggie, said: “Holoxica has developed innovative and respected technology and market ready products that have attracted significant grant funding and interest from global brands and defence organisations but it cannot continue trading without further investment.
"It offers organisations with existing market reach in 3D visualisation and medical imaging the opportunity to acquire valuable intellectual property, both in hardware and software."
Wendy Lamin, Holoxica chief executive, said: "I am very proud of our technology and the many successes we have achieved but it’s been a tough environment for small businesses and, despite grant funding and great support from Scottish Government, Scottish Enterprise and small investors, Holoxica can’t continue in its present form. We have attracted global interest in our technology.
"It has potential to change the face of medical consultations and teaching at scale, reduce waiting lists and costs for the NHS and has proven applications in commerce, telecoms and defence.
"We have shown that there is a more natural and collaborative way to do 3D, holograms and the metaverse besides using virtual reality and augmented reality headsets, but we have been just ahead of the times.
"We don’t have the huge marketing budgets of Google, Microsoft, Facebook and others and scale-up investment is required."
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