Edinburgh-based technology firm Holoxica – which specialises in 3D holographic tech – has entered liquidation, citing cashflow challenges.

Though its tech had garnered international interest, CEO Wendy Lamin said that the company could not continue on its current trajectory without a significant investment injection.

Accountancy and business advisory firm Henderson Loggie is to take charge, with insolvency partner Shona Campbell at the helm of the liquidation. Campbell cited Brexit and the pandemic as reasons the company faced cashflow challenges.

Holoxica’s IP and tech will now be put on the market, with liquidators hoping it will attract interest.

Holoxica CEO Wendy Lamin 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.

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“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, telecom 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.”

The company was founded in 2008, and specialises in holographic 3D visualisation technologists including holograms, holographic video displays, and proprietary software.

At COP26, the company premiered their 5G to 5G 3D videoconferencing demo and a 3D telepresence demo.

Holoxica has developed their tech for several fields, including advances in medical holographic consultation systems, defence systems by digitally twinning a human, and engineering.