Bristol spin-out Ultrahaptics secures investment in a round led by IP Group.
Ultrahaptics, a spin-out of Bristol University, has secured £600,000 ($940,000) to advance development of its ultrasound-based haptic technology. The round was led by IP Group and one of its managed funds, details of which remain undisclosed.
The spin-out, which previously secured £15,000 in June 2013 in Bristol University’s New Enterprise competition, will use the fresh investment to expand its software team. It will also advance its product development and increase customer engagement.
Ultrahaptics’ technology uses ultrasounds to create haptic feedback mid-air, giving users the tactile feedback similar to touching physical buttons when interacting with a touchless device. The ultrasound waves are projected through a screen onto the user’s hand.
The technology is based on research by Sriram Subramanian and his Bristol Interaction and Graphics group at Bristol’s Department of Computer Science.
Tom Carter, co-founder and chief technology officer at Ultrahaptics, said: “The Ultrahaptics evaluation programme launch has received a very warm reception from those within the industry. A lot of interest has been registered from several blue-chip organisations and the additional funding will help us to meet the needs of our customers.”
