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Bristol-based Ultraleap that develops hand-tracking solution secures £60M funding, focuses on metaverse

Image credits: Ultraleap

Ultraleap is a Bristol-based leader in interface technologies such as hand-trackng and mid-air haptics. The company has just secured £60 million in a Series D funding round from significant new investors including Tencent, British Patient Capital through its Future Fund: Breakthrough programme and CMB International alongside existing shareholders Mayfair Equity Partners and IP Group plc.

Focuses on metaverse

The investment will be used by Ultraleap to further develop and commercialise its revolutionary technologies for the existing and next-generation computing platforms.

Commenting on the fundraise, Tom Carter, Ultraleap CEO, said: “The metaverse concept is not new to Ultraleap. It has always been our mission to remove boundaries between physical and digital worlds. 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.”

Tom Carter added: “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. 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.”

Gemini: Hand-tracking platform

Ultraleap’s recent announcement of their fifth-generation hand tracking platform – Gemini is their world-leading hand-tracking software. It is now available across multiple platforms, camera systems and third-party hardware. Already, Qualcomm’s Snapdragon XR2 chipset and Varjo’s VR-3 and XR-3 headsets already arrive with Gemini inbuilt.

Ultraleap will use the investment to bring Gemini to different operating systems and increase their investment in tooling to enable developers to build more applications using the best interface – your hands. Also, it continue to invest in R&D to drive their machine-learning-based hand-tracking even further ahead.