Underwater action-camera manufacturer Paralenz is confirmed to have filed for bankruptcy. The Danish company, which had 39 employees, went into liquidation on 18 October, according to the PitchBook private-capital database.
The brand was conceived by Danish product designer Martin Holmberg in 2015, when he came up with the idea for a dedicated underwater action-cam. With three partners he developed and launched the first Paralenz Dive Camera model in 2017 following wide consultation with scuba divers, stating that “200 testers in 33 countries” had been involved in the process.
Funding for the launch was enabled by crowdfunding, with Paralenz meeting its US $80,000 initial target within 10 hours. It went on to raise $469,000 through crowdfunding during the year.
Paralenz was based in Rodovre near Copenhagen, and its current models are the Vaquita and 799-euro Vaquita 2nd Gen, announced on Divernet in August.
The brand’s website has now closed, and customer product and servicing queries have been diverted to paralegal Christina Andersen (cdn@horten.dk) in the insolvency department of law-firm Horten.
