SL Process, the parent company of the Lynx brand, has entered judicial liquidation proceedings as it prepares for the launch of its Lynx-R2 XR headset, which aims to serve both consumers and enterprise markets.
This development comes following a ruling by the Economic Activities Court of Nanterre, France, as documented in recent filings. The legal notice was officially published in the Bulletin Officiel des Annonces Civiles et Commerciales (BODACC), a French public bulletin for binding legal announcements concerning corporate status changes.
Under French insolvency law, judicial liquidation indicates that previous attempts at restructuring the company have failed, signifying that the business cannot continue its operations. Consequently, the company’s assets and intellectual property are likely to be sold to settle outstanding debts.
Efforts to obtain further comment from Lynx following a related announcement last week have been unsuccessful. This situation reflects ongoing challenges within the company, which Lynx CEO Stan Larroque has described in his personal blog as being under the management of what he refers to as a “shell company.”
The underlying reasons for this liquidation remain somewhat unclear, but reports suggest it may be linked to Google withdrawing its support for the Lynx-R2. Originally, the headset was set to launch using the Android XR operating system, with Google having previously terminated its agreement for this partnership.
Scheduled for release later this year, the Lynx-R2 headset features a 126° horizontal field of view, state-of-the-art aspheric pancake lenses, a Snapdragon XR2 Gen 2 processor, 16GB of RAM, and full-color pass-through capabilities. However, as previously reported by UploadVR, the termination of the partnership with Google came as a shock to the company.
The possible liquidation of SL Process may represent the conclusion of Lynx’s journey as an independent player in the XR hardware industry, marking the end of one of the few European efforts to deliver standalone XR headsets. Larroque had previously characterized the fundraising landscape as “excruciating” in 2024, highlighting the profound challenges new companies face in this sector.
Despite successfully raising $800,000 through a Kickstarter campaign for the R-1 model in late 2021, Crunchbase data indicates that Lynx has thus far accumulated only $6.8 million in total funding.
Source: Original Source
