Software

Ultraleap nets $82M to develop software platform

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November 23, 2021

Ultraleap, a producer of interface technologies, has completed an $82 million Series D round of investment. The funds will enable Ultraleap to further develop and commercialize its technologies for computing platforms, according to a company press release.

Round investors include Tencent, British Patient Capital through its Future Fund: Breakthrough program and CMB International. They join existing shareholders Mayfair Equity Partners and IP Group plc.

"The metaverse concept is not new to Ultraleap. It has always been our mission to remove boundaries between physical and digital worlds," Tom Carter, Ultraleap CEO, said in the release. "The pandemic has accelerated the rise of the term as more people now understand the power of enhancing the physical world with digital elements. "For Ultraleap, this new era is not constrained to VR headsets. Like the internet, it is a reality we will interact with in all parts of life: at home, in the office, in cars, or out in public. Our aim with this Series D raise is to accelerate the transition to the primary interface — your hands — because there are no physical controllers, buttons or touchscreens in anyone's vision of the metaverse."

Ultraleap's announcement of the fifth-generation hand tracking platform, Gemini, means software is now available across multiple platforms, camera systems and third-party hardware.

"This raise doesn't just give us greater resources to scale, but our investors provide us insights and access to our targets markets as well," Carter said in the release. "The timing aligns with the demand we are seeing from our customers across key verticals. I'm so proud of what the team has achieved to date to get us closer to our primary interface mission, and I am even more excited for where our mission will take us next."

Ultraleap employs more than 150 people across Europe, North America and Asia. It specializes in software and hardware to enable spatial computing for the XR, OOH, kiosks and automotive sectors.