Ultrahaptics raises $45m Series C
Ultrahaptics has raised $45m in Series C funding. The new funding will support new product development and further B2B customer acquisition across global markets and industry sectors. The round was oversubscribed and will enable Ultrahaptics to further develop and commercialise its haptic technology in next generation user interfaces and experiences.
The new funding is led by Mayfair Equity Partners, the buyout and growth investor in the TMT and Consumer sectors, with further new investors including Hostplus, the major Australian superannuation fund.
Existing shareholders IP Group plc, Woodford Investment, Cornes and Dolby Family Ventures have again participated.
Founded in 2013 and based on technology developed at Bristol University, Ultrahaptics’ core technology uses proprietary algorithms and supporting hardware to project ultrasound-driven tactile sensations in mid-air.
Users can ‘feel’ and interact with virtual objects and controls, using freehand gestures to interface with technology and content.
Ultrahaptics is currently engaged with blue-chip customers across key verticals such as automotive, where the company has developed concept vehicles with Bosch and Harman; digital signage; location-based entertainment; industrial controls; medical interfaces; VR games; and augmented reality / virtual reality (AR / VR) enterprise applications. The company also supports the international academic community through a programme designed to enable additional haptics research and development.
“We’re delighted to welcome major new investor Mayfair, while receiving further endorsement and support from our existing shareholders for the company’s exciting next phase of development,” says CEO Steve Cliffe, “our funding has become ever more global, reflecting the potential of our technology in industry sectors and markets all over the world.”