Tencent leads GBP 60m round for Ultraleap

Alongside Tencent, new backers included British Patient Capital, and CMB International. Existing investors IP Group and Mayfair Equity Partners also supported the round.

The funds raised will enable Ultraleap to further develop and commercialise its technologies for existing and next-generation computing platforms, according to a statement.

Previous funding
IP Group led a GBP 600,000 seed round of funding for Ultraleap (then Ultrahaptics) in 2014, drawing capital from IP Venture Fund II.

Woodford then led a GBP 10.1m Series A round the following year, with IP Group and other investors also taking part. Cornes, IP Group and Woodford later took part in a GBP 17.9m Dolby Family Ventures-led Series B in 2017.

Mayfair led a GBP 35m Series C funding round in 2018. Existing investors IP Group, Woodford and Dolby, and new investor Hostplus, also took part in the funding round.

Ultraleap was formed when Ultrahaptics merged with Leap Motion in 2019.

Company
Based in Bristol and with an office in California, Ultraleap was founded in 2013 based on technology developed at the University of Bristol. The company develops haptics hardware technology, allowing touch-free interaction with devices, with ultrasound waves creating the sensation of touch. The company employs more than 150 people.

People
Ultraleap – Tom Carter (CEO).

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• Mayfair Equity Partners