Ultrahaptics CEO, Steve Cliffe said: “We are a global business and the range of investors now reflects this more than ever. The Dolby family fund managers bring expertise in key markets, Cornes reflects and supports the growth of our distribution network in Asia and we are, of course, thrilled to continue our existing relationship with IP Group and Woodford Investment.”
Ultrahaptics’ technology is aimed at a variety of applications, including automotive, where the company has developed concept vehicles with Bosch and Harman, to industrial controls, medical interfaces and AR and VR.
Mark Reilly, IP Group’s head of technology, said: “I am particularly excited about the prospect of the company bringing its technology to VR, where it has the potential to be truly disruptive, and where the market pull has been significant.”
Makoto Seki, Corne’s executive director, added: “ Since we agreed a distribution agreement with the company, the market pull for this technology has been clear to us and it was an obvious choice for investment.”
Ultrahaptics raised more than £10m in its series A funding round in 2014.