Ultrahaptics raises £35 million in Series C fundraising

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Ultrahaptics, a specialist in mid-air touch technology, has completed a £35 million ($45 million) Series C round of investment.

This round of funding will enable Ultrahaptics to further develop and commercialise its haptic technology in next generation user interfaces and experiences.

The funding was led by Mayfair Equity Partners, a specialist in funding businesses in the TMT and Consumer sectors, with further new investors including Hostplus, the Australian superannuation fund. Existing shareholders IP Group, Woodford Investment, Cornes and Dolby Family Ventures also took part..

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.

Ultrahaptics is currently engaged with a number of 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.

Commenting on the round, Ultrahaptics CEO, Steve Cliffe, said: “We’re delighted to welcome major new investor Mayfair, while receiving further endorsement and support from our existing shareholders. Our funding has become ever more global, reflecting the potential of our technology in industry sectors and markets all over the world.”