Ultraleap sold for parts and laid off more than half of staff

Executive summary

Welcome to your weekly briefing on the metaverse and spatial computing. Here are your snippets to sound smarter in meetings this week:

• Top Story: Ultraleap has sold its hand-tracking division to Roli and its haptics IP to SIM IP (more below).

• Event: The Immersive Wire and City, University of London is hosting another networking event in London on 19 March. Come for the talks, stay for the chats and drinks!

• Other stories: Jeremy Dalton has left PwC to run his own venture, and Samsung, Meta, and Apple are reportedly developing OLED VR headsets (more below).

Top story

Ultraleap has sold its hand-tracking division to Roli and its haptics IP to SIM IP.

• What else? Sifted is also reporting that the company “also announced internally that it would lay off 30 employees last Friday, leaving the company with around 24 remaining staff — who will join Roli as part of the sale.”

Other stories

• Cojali plans to offer its Jaltest diagnostics software on AR glasses, enabling hands-free access to technical information for vehicle technicians during maintenance and repairs.

• Jeremy Dalton has left PwC to run his own venture.

• LOVESICK, an adventure game, is out now.

  • This has been reviewed by Nikunj Sethi from the team: “A good story narration in VR with lots of mystery elements to figure out throughout the game. The game includes plenty of interaction to keep you engaged in the story. The graphics are decent enough to keep you immersed in the experience. However, at times, it is quite difficult to figure out how to move ahead in the game, like when you have to use the remote in the Edge Case shop to change channels on the television. Overall, the experience would have felt more realistic if the player had a full-body avatar instead of just hands.”

• Meta will recommend that developers use the built-in OpenXR support in Unity and Unreal, addressing concerns over compatibility with non-Meta PC VR headsets.

• Peer Global raised $10.5mn from the Family Office of Tommy Mai to advance its metaverse game engine platform.

• PIXO VR has partnered with J. J. Keller & Associates to integrate its immersive VR training solutions into J. J. Keller's learning platform, enhancing workplace safety and compliance training.

• Samsung, Meta, and Apple are reportedly developing OLED VR headsets, with Meta’s expected in 2026 and Apple’s in 2027, using OLED-on-Silicon displays.

• XPANCEO unveiled three new smart contact lens prototypes at MWC 2025, including a wireless-powered lens, an IOP sensor, and biochemical sensors, alongside enhanced AR vision and data-reading models.

• Virtuix has announced TREKS, an immersive tourism experience for the Omni One VR treadmill, allowing users to explore iconic destinations while staying active.

Note: The Immersive Wire is run by Tom Ffiske, who also works at Accenture. The contents of the newsletter should not be regarded as Accenture’s views.