Ultrahaptics raises £35 million in oversubscribed Series C fundraising
Ultrahaptics, the world leader in mid-air touch technology, today announced it has completed a £35 million ($45 million) Series C round of investment. The raise, which was oversubscribed, will enable Ultrahaptics to further develop and commercialise its revolutionary haptic technology in next-generation user interfaces and experiences.
The new funding is led by Mayfair Equity Partners, the buyout and growth investor providing capital to dynamic businesses 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 the University of Bristol, UK, 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.
“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. Our funding has become ever more global, reflecting the potential of our technology in industry sectors and markets all over the world.”Steve Cliffe, CEO, Ultrahaptics
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.
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Ultraleap is the new single brand formed after Leap Motion joined Ultrahaptics in 2019. The combination of the two leaders and a strong portfolio of research-based IP are now focused on facilitating engaging, natural, 3D (spatial) interaction between people and technology. This fast-growth company employs more than 150 people across UK, US and Asia. It has become the first to offer the full vertical stack of software and hardware to enable immersive virtual touch controls for the automotive, advertising, industrial, immersive entertainment and enterprise sectors.
For Mayfair Equity Partners
Charlie Harrison & Ed Brown
+44 (0)20 3047 4228 / +44 (0)20 3047 2268
About Mayfair Equity Partners
Mayfair Equity Partners is a buyout and growth capital investor providing capital to dynamic businesses in the TMT and Consumer sectors. Its primary focus is on building strong partnerships with exceptional management teams. Mayfair is an investor in OVO Group, a high-growth tech-enabled energy challenger brand, YO!, a multi-brand multi-channel sushi platform with operations across the UK, Canada and the US, SuperAwesome, a global high-growth digital marketing business whose technology platform enables brands and agencies to deliver kid-safe digital advertising to under-thirteen audiences, and GCI, one of the UK’s leading converged ICT service providers. www.mayfairequity.com