IP Group returned for the Bristol spinout's series D that will go to product development and commercialisation.

Ultraleap, a UK-based mid-air haptics technology developer spun out of University of Bristol, has closed a £60m ($81m) series D round featuring commercialisation firm IP Group.

Financial services firm China Merchants Bank’s CMB International arm also took part in the round alongside internet and gaming group Tencent, Mayfair Equity Partners and British Patient Capital’s Future Fund: Breakthrough vehicle. It has now raised over $164m altogether.

Founded in 2013, Ultraleap has created haptics interface and hand-tracking software able to capture all…

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