Ultraleap

“Ultraleap creates the world’s leading spatial interaction company, enabling the creation of next generation user interfaces.”

Tom Carter, Founder and CEO

Ultraleap
Website: ultraleap.com

The product

Ultraleap is the world’s leading spatial interaction company, combining two core technologies; haptics and tracking. The technology includes the full vertical stack of software and hardware for spatial (3D) interaction. Mid-air haptics is our patented ‘virtual touch’ technology that uses ultrasound to project tactile sensations onto the users’ hands. Users can feel and interact with virtual objects and controls, with no need for wearables, controllers or touchscreens. The tracking solution, powered by artificial intelligence, is the industry’s most robust solution and can be embedded into any product, including VR and AR headsets. 

Market description

We are in the midst of an interface revolution. Interactions between people and machines have already moved away from the keyboard and mouse to touchscreens. The next step is to interact in 3D, as we do in the real world. Spatial interaction will be key to providing this naturalistic interaction as it allows entirely new user interfaces and experiences. Tactile, virtual interfaces are set to transform user interaction across sectors such as automotive, advertising, immersive entertainment, VR/AR, training/simulation, and enterprise applications.

What are your fundraising plans in the next 12 to 24 months?

Ultraleap raised its Series C funding in November 2018, which totaled GBP 35 mn. This fundraise provided Ultraleap with two years’ runway, and like every good tech firm, Ultraleap continually explores financing opportunities with existing and potential new partners.

What are your venture’s key achievements to date?

We won a Queen’s Award for Enterprise in the Innovation category in early 2018, Ultraleap has gone from strength to strength. In late 2018, we secured an oversubscribed Series C round of investment, bringing the total invested to GBP 64 mn. However, the most notable achievement was in May 2019 when Ultrahaptics acquired Leap Motion, a world leader in hand tracking. The two companies have recently come together to create a single brand "Ultralea" and the world’s leading spatial interaction company. We have a community of over 300,000 developers with our technology, used by major companies including Intel, Dell, Bosch, Nike, and others. 

What are your plans for future development?

We have major new versions of both tracking and haptics technologies coming soon, as well as a few very exciting surprises. Our primary focus is on integration into customer products and getting our technology out into the hands of as many users as possible.