DAC Beachcroft Leads Funding Round for Revolutionary Tech Company, Ultrahaptics

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DAC Beachcroft Leads Funding Round for Revolutionary Tech Company, Ultrahaptics

Published 20 junio 2017

International law firm DAC Beachcroft has led a series B Round Investment for Ultrahaptics of £17.9m. The tech company has developed remarkable technology that allows users to touch virtual objects in mid-air.

The firm advised on corporate, IP and tax aspects of the round. DAC Beachcroft's team was led by Corporate partner Michael Pearce, with support from Intellectual Property partner Andrew Allan-Jones, Corporate Tax partner, John Dunlop and Corporate solicitor Charlotte Laband.

Ultrahaptics' revolutionary technology uses ultrasound to project sensations through the air directly onto a user’s hand. Its technology enables entirely new user interfaces and experiences, making it possible to interact with virtual objects and applications. Users can ‘feel’ buttons and interact with virtual objects in mid-air, using gestures to interface with technology.

This latest investment will support the company through its global expansion and its entry into virtual and augmented reality markets. The new funding comes from existing shareholders, IP Group and Woodford Investment Management, as well as new investors, including Cornes and Dolby Family Ventures.

Commenting on the deal, Michael Pearce said: "We have supported Ultrahaptics for the past two and a half years and it's of no surprise to us that the company has attracted investment from a portfolio of high-profile investors. It's a pleasure to work with a company with such potential and we look forward to continuing our fruitful relationship with the team."

Ultrahaptics CEO, Steve Cliffe added: “The expertise of the DAC Beachcroft team has been invaluable in closing this round. We continue to work with them as we use this funding to continue to grow this business and to fulfil its potential to become one of the UK’s leading technology businesses”.