BRISTOL, England, November 2, 2015 /PRNewswire/ --
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."
Link to graphic:
http://ultrahaptics.com/wp-content/uploads/2015/11/UHPRI009-Steve-Cliffe-CEO-and-Tom-Carter-CTO-Founder.jpeg
About Woodford Investment Management
Woodford Investment Management LLP is a fast-growing asset
management company built on a founding philosophy of transparency
and simplicity. Launched in May 2014,
the company has more than £12.5bn assets under management. Further
information can be found at https://woodfordfunds.com
About IP Group
IP Group is a leading intellectual property commercialisation
company which focuses on evolving great ideas, mainly from its
partner universities, into world-changing businesses. The Group has
pioneered a unique approach to developing these ideas and the
resulting businesses by providing access to business building
expertise, capital, networks, recruitment and business support. IP
Group has a strong track record of success and its portfolio
comprises holdings in over 90 early-stage to mature businesses
across four main sectors -- Biotech, Cleantech, Healthcare and
Technology. The Company is listed on the Main Market of the London
Stock Exchange under the code IPO.
For more information, please visit our website at
http://www.ipgroupplc.com.
About Ultrahaptics
Ultrahaptics is the world's leading mid-air haptics company. The
company has developed a unique technology that enables users to
receive tactile feedback without needing to wear or touch anything.
The technology uses ultrasound to project sensations through the
air and directly onto the user. Users can 'feel' touch-less buttons
get feedback for mid-air gestures or interact with virtual
objects.
For more information, please visit our website at
http://www.ultrahaptics.com
Media Enquiries:
Heather Macdonald Tait
Ultrahaptics Limited
heather@ultrahaptics.com
SOURCE Ultrahaptics Limited