INCUS Performance ceases trading with immediate effect
From the founder, Chris Ruddock:
It is with great sadness that I must announce the closure of INCUS Performance Ltd.
How did it come to this?
Late last year, a crucial cornerstone investment was withdrawn from us at very short notice. It was made clear that this decision was not a reflection of INCUS’s business or potential, but it was as a direct consequence of national and international financial turbulence affecting VC tech and funding markets.
The situation was particularly devastating, as the team was on the brink of delivering its highly anticipated NOVA 2.0 technology and livestream 'Mixed Reality' services at major international races in 2023, and had worked so hard to achieve this.
The INCUS management team has since tried every available avenue to substitute the shortfall and find alternative funding, but this has not been successful in the timeframe needed. We were therefore forced to begin an insolvency process in January.
Why hasn't this announcement been made sooner?
Since the gravity of the situation became apparent, the management team has worked tirelessly to explore every option to keep the business going. Until this process was formally concluded, we could not make any public announcements, as this could have been harmful to finding a solution in everyone's best interests.
It has only been within the last few days that this process has formally concluded, and we have been permitted to make a public statement.
What does this mean for INCUS users?
Regrettably, this means that INCUS | CLOUD swim and run services will soon end for all active users.
- INCUS support and contact via email will shut down with immediate effect (7th March 2023).
- The INCUS | CLOUD app and features will no longer be supported on iOS and Android
- New sessions recorded with a NOVA device will not be processed once servers are shut down.
- All personal data and accounts will be gradually deleted from our servers in accordance with GDPR policies.
Under other circumstances, we would have wanted to keep some support going for a period of time to allow our members to ask questions and come to terms with what this means. I can only apologise that this isn't possible.
We will continue to keep servers running for as long as our providers allow, but the timeframe for this is uncertain, considering the Company has now formally been dissolved.
This has been an extremely tough time not only for myself and my team, but for the wider sports and technology sectors.
As a small, independent innovation company, we've been proud to navigate the extreme global challenges of the last 3 years, but this final hurdle has been one too many for us to overcome. It’s been particularly hard to come to terms with, given such genuine promise and positivity for our future just a few short months ago. Our thoughts and best wishes go to those that continue to bring innovation to sport under such difficult global circumstances.
I want to personally thank all of our customers for their support while developing the INCUS platform over the last 7 years. It has grown from a bedroom project to shipping products internationally, building an amazing community of swimmers, runners and triathletes and finally delivering world-first livestream services for events. I will forever be thankful to you for believing in INCUS and helping us to make it happen. Your feedback, enthusiasm, stories of progress using the platform and general warmth of spirit have been incredible and has been the most rewarding part of this journey.
I must also give particular thanks to our exceptional staff team, partners and sponsored athletes, without whom this endeavour would not have been possible. Your faith in us, even at the end, has meant everything.
I couldn't be prouder of everyone involved in building INCUS, and for the infectious dedication to sport, health and innovation that it embodied. I can only apologise that we couldn’t finish the job as we’d wanted.
Thank you for your understanding, and my very best wishes to you all,
- Former Managing Director, INCUS Performance
INCUS Performance Ltd has appointed Dean Anthony Nelson and Nicholas Charles Osborn Lee of PKF Smith Cooper as Joint Liquidators. For any enquiries please contact PKF using the details below.
- Stanley Bottrill 01332 332 021 creditor.correspondence@