Bristol Uni spin-out backed by IP Group
Ultrahaptics, a Bristol University spin-out which simulates the feel of objects in mid-air using nothing but sound, is poised for growth after securing a six-figure sum to develop its technology.
The business will expand its software team and accelerate product development using the £600,000 investment, which was led by IP Group and one of its managed funds.
Ultrahaptics' technology uses ultrasound to project sensations through the air and onto the user. The product will be licenced for a range of markets, including consumer electronics, household appliances and the automotive sector.
Mark Reilly, head of technology at IP Group, said: "Ultrahaptics has created a unique technology with the potential to transform the user experience of increasingly prevalent touchless interfaces. IP Group is excited to be participating in the company’s development and growth."
Tom Carter, chief technology officer at Ultrahaptics, added: "A lot of interest has been registered from several blue-chip organisations and the additional funding will help us to meet the needs of our customers."
Ultrahaptics was set up through the Bristol SETsquared Centre and early commercialisation was supported by the university's research and enterprise development team, with funding provided by its EPSRC Impact Acceleration Account.