Ultrahaptics, the Bristol-based startup trying to bring mid-air haptics to applications like VR and AR, has raised £17.9 million.
The Series B round includes existing investors IP Group plc and Woodford Investment Management and new investors Cornes, which previously had a distribution deal with the startup, and Dolby Family Ventures. The new funds will be used to grow the company’s VR and AR ambitions and expand into new markets.
Ultrahaptics is developing system using ultrasound technology to project the sense of touch onto a user’s skin. Last year, CTO Tom Carter explained to tech.eu that he envisioned the technology being used in VR to create a sense of touch and ability to feel something virtually that isn’t really there as well as creating new “touchless” interfaces where users can interact with a system without actually touching it.
“We are a global business and the range of investors now reflects this more than ever. The Dolby family fund managers bring expertise in key markets, Cornes reflect and support the growth of our distribution network in Asian markets, and we are of course thrilled to continue our existing relationship with both IP Group and Woodford Investment,” commented CEO, Steve Cliffe.