British startup Ultrahaptics began life as a project within Bristol University in 2013, securing £17.9 million of funding in 2017. Today, the company has announced the successful completion of a Series C round of investment, securing £35 million GBP ($45 million USD).
The round was led by Mayfair Equity Partners, with further new investors including Hostplus, the major Australian superannuation fund. Existing shareholders IP Group plc, Woodford Investment, Cornes and Dolby Family Ventures also participated.
Commenting on the round, Ultrahaptics CEO, Steve Cliffe, said in a statement: “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.”
The investment will enable Ultrahaptics to further develop and commercialise its haptic technology for user interfaces and experiences. Ultrahaptics’ core mid-air haptic technology creates the sense of touch in mid-air by using arrays of ultrasonic transducers to project haptic feedback directly onto users’ hands. Through the emission of ultrasound waves, developers can manipulate them so that the combined pressure of the waves interacting produces a force that can be felt.
“The potential for mid-air haptics systems within immersive infotainment systems and human-machine interfaces is very compelling and exciting,” adds Daniel Sasaki, Managing Partner of Mayfair Equity Partners. “We look forward to supporting the Ultrahaptics team in their journey to become the global platform enabling mid-air haptics.”
Earlier this year saw Ultrahaptics launch its STRATOS Explore development kit for enterprise customers who want to explore how mid-air haptics can enhance their products. The company’s most recent release has been the STRATOS Inspire plug-n-play haptic module for applications such as digital signage, location-based entertainment or interactive touch displays and interfaces.
VRFocus will continue its coverage of Ultrahaptics, reporting back with the latest updates.