Tech

How Altada burned through €11.5m funding to leave it like ‘a melting ice cube’

The Business Post last year revealed a culture within the Cork-based tech firm of heavy spending on events including expensive hotel stays. The insolvent firm has now been sold for €4 million, having been talked about as a potential €1 billion valued unicorn just a year ago

Niamh Parker and Allan Beechinor, the husband-and-wife team that co-led Altada: the artificial intelligence (AI) firm owed almost €10 million to creditors at the end of 2022. Picture: Clare Keogh