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Published 26 November 2021
A Bristol-based team in DAC Beachcroft’s corporate practice have advised client Ultraleap on an investment round which raised £60m and brings in a host of new backers.
Ultraleap is a Bristol-based tech firm which uses ultrasound to enable users to engage with and feel digital interfaces without touching surfaces.
The funds raised by the Series D investment round will be used by Ultraleap to further develop and commercialise its products for existing and next generation computing platforms. The round was led by Chinese tech giant Tencent, and included British Patient Capital and CMB International together with existing investors Mayfair Equity Partners and IP Group.
The DAC Beachcroft team, led by partner Michael Pearce, and supported by solicitor Georgia Thomas and paralegal Brendan Clark advised on all UK legal aspects of the round.
Michael Pearce said, “I’m very pleased that we were able to play a part in the latest step in the continued success of Ultraleap, a true Bristol success story. The city has a fast-growing technology sector and we’re proud to be able to have supported one of its shining lights through each of the most pivotal deals in its lifecycle. We are excited to see where the company goes next; expertly designed touchless technology has never been more relevant.”
DAC Beachcroft’s UK corporate team comprises over 40 lawyers, working from London, Bristol, Leeds and Manchester. Clients include financial services businesses, technology groups, property companies, healthcare providers and investors, energy and natural resources companies and retailers.