Ultrahaptics announces £10.1 million Series A funding round led by Woodford Investment Management.
Bristol, UK – 2nd November 2015. Ultrahaptics, the leading developer and licensor of mid-air haptic technologies, today announced a Series A funding round of £10.1 million led by Woodford Investment Management alongside existing shareholder IP Group plc (LSE:IPO).
“The company is engaged with Tier 1 manufacturers in multiple markets and the investment from Woodford Investment Management will allow us to fulfil this demand and address additional markets and customers,” said Steve Cliffe, CEO. “Our technology completes gesture control by re-introducing the sense of touch.”
This Series A funding from Woodford Investment Management, IP Group, employees and other investors brings Ultrahaptics’ total funding to date to £11.3 million.
Mark Reilly of IP Group commented: “We have been involved with Ultrahaptics from the very beginning and have been delighted with both the technical and commercial progress achieved to date. We are extremely excited to participate in this Series A funding and the company’s continued development.”