£10 million for University of Bristol spin-out
11 Dec 2015 by Evoluted New Media
Funding worth £10.1 million has been awarded to the University of Bristol spin-out – developer of technology that uses ultrasound to create tactile sensations in mid-air – to grow its business globally.
Funding worth £10.1 million has been awarded to the University of Bristol spin-out – developer of technology that uses ultrasound to create tactile sensations in mid-air – to grow its business globally.
The new investment – provided by Woodford Investment Management and IP group – will allow the spin-out company Ultrahaptics to work with manufacturers in different markets and reach new customers.
Steve Cliffe, CEO of Ultrahaptics, said: “The investment from Woodford Investment Management will allow us to fulfil this demand and address additional markets and customers. Our technology completes gesture control by re-introducing the sense of touch.”
The technology can bring sense of touch to touchless interfaces by feeling without touching. The system uses ultrasound to project sensations through the air and directly onto the user, revolutionising how people interact with computers, automobiles and consumer goods. Users can feel touchless buttons, get feedback for mid-air gestures or interact with virtual objects.
“We have been involved with Ultrahaptics from the very beginning and have been delighted with both the technical and commercial progress achieved to date. We are extremely excited to participate in this funding and the company’s continued development,” said Mark Reilly of IP Group.
