Ultraleap secures £60m in Series D funding
Ultraleap, a leading tech company based in Bristol that creates hand tracking and haptics solutions, announced today that it has raised £60 million in a Series D funding round.
The raise will enable Ultraleap to further develop and commercialise its revolutionary technologies for existing and next-generation computing platforms.
Significant new investors including Tencent, British Patient Capital through its Future Fund: Breakthrough programme and CMB International, are joined by existing shareholders Mayfair Equity Partners and IP Group plc, who further cemented their confidence in Ultraleap by investing in the round.
Commenting on the fundraise, Tom Carter, Ultraleap CEO, said: “The metaverse concept is not new to Ultraleap. It has always been our mission to remove boundaries between physical and digital worlds. The pandemic has accelerated the rise of the term as more people now understand the power of enhancing the physical world with digital elements.
“For Ultraleap, this new era is not constrained to VR headsets. Like the internet, it is a reality we will interact with in all parts of life: at home, in the office, in cars, or out in public. Our aim with this Series D raise is to accelerate the transition to the primary interface – your hands – because there are no physical controllers, buttons or touchscreens in anyone’s vision of the metaverse.”
This year, Ultraleap has already released Gemini, their fifth-generation hand tracking platform, whilst their hand tracking and haptic technology are now used by over 350,000 developers and some of the world’s most innovative companies – including Qualcomm, Varjo, Stellantis, Autodesk VRED, PepsiCo and Acer.
With the additional funding raised, Ultraleap plans to make building with hand tracking and haptics even easier and better.
To do this, the company plans to increase investment for virtual reality (VR) and augmented reality (AR) tooling for Unity and Unreal; enhance touchless interfaces by rapidly improving their TouchFree application and introducing a camera module designed specifically for interactive kiosks; make iterating faster on their automotive haptic platform, and invest significantly in R&D to drive forward their mid-air haptic technology.
Tom Carter added: “This raise doesn’t just give us greater resources to scale, but our investors provide us insights and access to our targets markets as well. The timing aligns with the demand we are seeing from our customers across key verticals.
“I’m so proud of what the team has achieved to date to get us closer to our primary interface mission, and I am even more excited for where our mission will take us next.”