Ultraleap raises £60 million in Series D fundraise to be the primary interface for the metaverse

Round will scale the group’s technologies and accelerate the shift to the next-gen computing
platform for their verticals

Embargo: Wednesday 17th November, 2.05pm GMT Ultraleap, the world leader in interface
technologies – hand tracking and mid-air haptics – today announced it has completed a £60 million
($82 million) Series D round of investment. The raise will enable Ultraleap to further develop and
commercialise its revolutionary technologies for existing and next generation computing platforms.

Significant new investors including Tencent, British Patient Capital’s Future Fund: Breakthrough and
CMB International, are joined by existing shareholders Mayfair Equity Partners and IP Group plc,
who further cemented their confidence in Ultraleap by investing in the round.

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. 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.”

“The Ultraleap team continually exceed expectations, delivering new and innovative technologies
that transform the way people and businesses interact with the digital world, “said Kunal Dasgupta,
Partner at Mayfair Equity Partners. “We’re thrilled to continue our partnership with Ultraleap as it
launches Gemini, a fifth-generation hand-tracking platform. Combined with the company’s worldleading mid-air haptics technology, it has the potential to revolutionise the boundaries between the virtual and physical worlds with a range of technology applications across multiple sectors.”

Hand tracking will be to XR, what touchscreens were to the smartphone

Ultraleap’s recent announcement of their fifth-generation hand tracking platform, known as Gemini,
means for the first time, their world leading hand tracking software is now available across multiple
platforms, camera systems and third-party hardware. Qualcomm’s Snapdragon XR2 chipset and
Varjo’s VR-3 and XR-3 headsets have already shipped with Gemini built in.

With this investment round, Ultraleap will continue 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. Ultraleap will also continue to invest in R&D to drive their machinelearning-based hand tracking even further ahead.

Pandemic driving touchless tech

The pandemic has given the world a new understanding of how pathogens can transfer and
catalysed the demand for touchless self-service solutions. Companies like PepsiCo and Lego are
already utilising Ultraleap’s technology to remove the barrier of COVID-19 and empower people to
return to public settings with confidence. This Series D round will allow Ultraleap to continue to
deliver world-class OOH products to its customers at pace, like the company’s award winning
TouchFree application.

UX is the new horsepower

As the Automotive industry evolves, manufacturers are looking to differentiate on the in-cabin
experience even more, as seen with DS Automobiles and Hosiden. The Series D round will enable
Ultraleap to iterate faster on their automotive haptic platform and invest in R&D to drive forward
the world’s only commercially available mid-air haptics solution.

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.”


About Ultraleap

Ultraleap’s world-leading hand tracking and unrivalled mid-air haptic technologies allow you to
engage with the digital world naturally – without touching surfaces. No touchscreens. No controllers.
No keypads. No surfaces. From enhancing 2D screens to developing fully immersive 3D experiences,
Ultraleap powers natural, safe, and effortless digital interaction in the increasingly connected world.

Ultraleap employs more than 150 people across Europe, North America and Asia. It has become the
first to offer the full vertical stack of software and hardware to enable spatial computing for the XR,
out-of-home (OOH) and kiosks and automotive sectors.


More information:

(Interviews, photos and videos available on request)
Read more about Tom Carter’s thoughts of the future of Ultraleap and the metaverse we (are about
to) live in.

Media Enquiries:

Faye Lockier


+44 (0)774 1851059


Charlie Harrison

Mayfair Equity Partners / The One Nine Three Group

+44 (0)7884 136143