Ultrahaptics has announced a Series A funding round of £10.1million led by Woodford Investment Management alongside existing shareholder IP Group.The start-up, specialising in mid-air haptics aims to revolutionise how we interact with computers, automobiles and consumer goods.
Steve Cliffe, CEO of Ultrahaptics, said: “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.”
The Series A funding from Woodford Investment Management, IP Group, employees and other investors brings Ultrahaptics’ total funding to date to £11.3m.
Mark Reilly of IP Group said: “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.”
Pic: Steve Cliffe, CEO and Tom Carter, CTO and founder
Author
Tom Austin-Morgan
Source: www.newelectronics.co.uk