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Full coverage: Altada

“This is very choppy waters now, for everyone”: A week in the life of Altada

As Judge Brian Cregan phrased it: “This is very choppy waters now, for everyone.” So what happened over the past week to bring Altada, Cometgaze, Datech, creditors, and employees into this period of squally swell?

Rosanna Cooney
16th Jan, 2023 - 6 min read

Datech-led consortium in pole position for Cork’s Altada as staff rebel

A group of investors that includes Eddie Jordan, Elkstone, Princeton and others has edged ahead for the insolvent Cork AI firm. But staff are objecting to the deal.

Tom Lyons
12th Jan, 2023 - 2 min read

Revenue puts its weapon back in the holster as sale of Altada gets the green light

In terms of value, the insolvent Cork artificial intelligence firm was described as a "melting ice cube"; without a quick sale staff will leave and there will be nothing left. But a liquidation report has raised "weighty" concerns about the company's borrowings and spending.

Francesca Comyn
11th Jan, 2023 - 5 min read

As bidders circle, a US investor acquires a minority slice of Altada’s debt

The buyer of loans owed by the Cork artificial intelligence start-up in receivership has a long history with the company. The move comes as bidders express interest in acquiring the business.

Tom Lyons
8th Dec, 2022 - 2 min read

Altada hoped to deal with Darktrace founder Mike Lynch but now a receiver has gone into the troubled AI firm

Just a few months after lending debt finance to Altada, a group of Irish investors have appointed a receiver to the firm. How its founders will respond remains unclear.

Tom Lyons
11th Nov, 2022 - 2 min read

Altada’s “vital” US backer resigned board seat in May

The Cork-based AI start-up has admitted to funding difficulties leading to staff lay-offs in recent weeks. But it is only revealing now that the investor who rescued the company from insolvency resigned as director three months ago.

Thomas Hubert
31st Aug, 2022 - 3 min read

The Altada money trail: The changing cap table, the price per share and how the founders returned

To exit a 2019 examinership, cash-strapped Altada agreed to replace its co-founder Allan Beechinor with new shareholders and directors three years ago. Within months, he returned - here is how it happened.

Thomas Hubert
18th Aug, 2022 - 4 min read

Did you make mistakes? “100%, totally”: Altada’s Niamh Parker and Allan Beechinor want to set the record straight

Altada’s Allan Beechinor and Niamh Parker address the controversies and the future of the hotly tipped artificial intelligence start-up. But what is really going on?

Tom Lyons
18th Aug, 2022 - 20 min read

Altada pursues bridging finance to bring staff back

The AI data firm has had to furlough employees after failing to raise a series A round earlier this year. It is now working on an alternative funding plan.

Thomas Hubert
10th Aug, 2022 - 1 min read

Back from the brink: US investor swoops to save data privacy firm from liquidation

Altada has survived insolvency and a shareholder battle. Just. There has been a great cost to the three founders, who have been wiped out in the examinership. Now, however, the Cork based tech start-up has a new champion.

Francesca Comyn
19th Nov, 2019 - 8 min read
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