Ultraleap has recently announced that they have raised £60 million in their Series D fundraise to be the primary interface for the metaverse. This marks a significant milestone for the tech company, striving to provide a seamless interface between the physical and virtual worlds.
This article will explore the mission of Ultraleap and why they are so well-positioned to be this primary interface.
Overview of Ultraleap
Ultraleap is a company founded by industry veterans with the mission to be the primary user interface to the metaverse. The company is based on its patented hand tracking technology, which provides unrivalled accuracy and responsiveness when tracking virtual objects and hands. In addition, Ultraleap’s patented optics and algorithms allow users to interact with virtual objects in three dimensions – a breakthrough made possible only by integrating technology from multiple disciplines including hardware, software, mechanics and optical engineering.
The system’s functionality is complemented by an easy-to-use API which simplifies integration into existing platforms. This feature means that developers can quickly create realistic experiences without reinventing the wheel or starting from scratch whenever they need to implement hand-tracking capabilities into an application or game. In addition, Ultraleap’s motion control system also supports multi-user gesture recognition as it can accurately track competitors or players in a digital environment and support spatial analytics platforms in VR/AR applications with real-time magnetometer data.
In short, Ultraleap seeks to be at the forefront of user interface technology that can revolutionise how users interact with virtual worlds – enabling them to move freely within digitally recreated spaces and truly explore what lies beyond our physical reality.
Ultraleap’s mission to be the primary interface for the metaverse
Ultraleap is on a mission to be the trusted partner for leading game and XR companies, become the primary interface for the metaverse, and revolutionise how we interact with computers. We have developed a powerful platform that blends our advanced technology with the broader industry needs.
Our hardware-agnostic hardware and software enable users to access content, applications, and experiences using natural hand-and finger-tracking capabilities. We designed this comprehensive platform — along with our software development kits — to provide reliable, accurate data, allowing developers to focus on creating amazing immersive experiences without compromising performance or content quality.
Five key components make up our platform:
- AI Platform – Utilises machine learning models to recognize hands and fingers in real time;
- Tracking Platform – Analyses up to 1.3 million points per second while maintaining precision accuracy;
- SDKs – Embeds advanced vector transformation technology into existing applications through optimised APIs and libraries;
- Tools – Streamlines development design and implementation by eliminating start-ups’ need for bulky data sets;
- Adaptors & Accessories – Open standard PC ports allow users to quickly connect their devices to Ultraleap’s comprehensive platform.
Together, these features empower developers with a comprehensive solution that makes it easier than ever for users from all backgrounds and abilities to connect, engage, explore, and create in 3D environments: The Metaverse.
Ultraleap’s Series D fundraise
Ultraleap, the leading hand-tracking technology company, announced today the successful completion of its Series D fundraise. The company raised $60 million in the round, to become the primary interface for the metaverse. Investors included Sony Innovation Fund, Maxfield Capital, and Qualcomm Ventures. This brings Ultraleap’s total funding to $130 million since it began operations in 2013.
Overview of the fundraise
Ultraleap is announcing the closing of their Series D fundraise, with a total raise of $45 million. The round was led by Qualcomm Ventures and followed by G2VP, this is the fourth round of outside funding that Ultraleap has received. This latest takeaway brings their total investments to nearly $101m, from some of the world’s leading investors.
This fundraise will allow Ultraleap to expand its innovative hand tracking solutions further into the enterprise and gaming markets. With the support of strategically valuable investors and industry-leading technology partners such as Qualcomm Technologies Inc., Ultraleap is accelerating its mission to be the primary interface for metaverses.
The funds raised will help to accelerate research, product development, commercialization efforts, and ecosystem collaboration across dozens of industries, powering an entirely new way for people to interact with technology in any environment or physical scenario.
Ultraleap plans to use this injection of capital towards groundwork already in process, including:
- Continuing software developments on hardware integration with integrated chipmakers (like Qualcomm)
- Increased commercial availability for dedicated hand tracking solutions for VR & AR headsets
- Surfacing game-changing solutions for real world applications such as retail, automotive and education
Breakdown of the funds raised
Ultraleap has recently closed its $45 million Series D fundraise with strategic investments from Samsung NEXT and Sony Innovation Fund, both significant investors. This fundraising round also includes significant participation from existing investors such as Balderton Capital, Partech, btov and Amadeus Capital Partners. The funds will accelerate Ultraleap’s mission to be the primary interface for the “metaverse”, a term popularised by Ready Player One that synthesises real-world environments with digital extensions.
These funds will help Ultraleap expand its hardware & software engineering capabilities, accelerate the development of new haptic experiences, and expand the reach of its technology through strategic partnerships. This raise will drive product & platform innovation to create engaging consumer touchpoints and engage meaningful conversation surrounding how people can creatively leverage haptic data. Ultraleap plans on signing up more developers across all research fields and increasing production of Virtual Reality (VR) and Augmented Reality (AR) products that use its patented Haptic Pod technologies.
The funds raised will be broken down into various channels:
- Research & Development: Funds will be dedicated to developing a wide range of software and hardware collaborations designed to quickly bring innovative products to market across various industries including automotive, medical and entertainment.
- Strategic Partnerships: Funds will be invested towards defining project objectives with customers, driving customer demos throughout virtual reality studios worldwide to provide feedback for future product line improvements.
- Global Expansion: Funds provided by this raise are expected to support global expansion, including setting up additional offices worldwide through 2021.
- Product Innovation: Funds are allocated towards further investment in R&D efforts to create new touchpoints involving emotions haptics for gesture-based interfaces such as force feedback for gaming controllers or natural language recognition methods for robotic interactions with humans or machines alike.
Impact of the fundraise
Ultraleap, a UK-based gesture control tech company has closed its £23.6M Series D fundraise. This comes at an opportune time when the digital and augmented reality world is on the brink of a radical transformation. With its pioneering technology, Ultraleap is well placed to be the primary interface for ‘the metaverse’ – a virtual universe that links together physical and digital worlds.
The key areas in which this fundraise will have an impact are:
-Technology Advancement: Ultraleap’s latest funding will enable continued research and development into high precision hand tracking technology in virtual, augmented and mixed reality applications. This allows users to interact with virtual environments naturally and intuitively using their hands to complete tasks or navigate around a space as if it were real. It also opens up new possibilities for immersive activations in marketing campaigns or live events that provide unique experiences for audience engagement.
-Growth of the Metaverse: Evidenced by leading investors such as Riverwood Capital, Intel Capital and MTIP (Microsoft Technology Investment Program) coming on board this series D round, Ultraleap is set to drive the growth of ‘the metaverse’ – a three-dimensional virtual environment populated by digital citizens free from physical boundaries such as those presented by geographical location or language barriers. Such fusion of both physical and digital worlds will give users unprecedented access to interactivity with objects in both realities on any device including mobile phones or tablets.
-The Future is Here: The raise places focus firmly on regional expansion into new markets such as USA, Canada & Japan where Ultraleap’s technology can make it easier for users to interact with software without touching anything — any surface become your computer — thereby streamlining workflows & enhancing productivity from anywhere present in realtime or remote working context thereby completely transforming user experience based interfaces & haptics onto new levels previously unimaginable!
Ultraleap has recently announced that it has raised a whopping £60 million in a Series D fundraise, aiming to become the primary interface for the metaverse.
The metaverse is initially proposed in Neal Stephenson’s 1992 science fiction novel Snow Crash. It describes a virtual world with persistent online communities, featuring a combination of 3D virtual environments, persistent online identities, and real-world physics.
Ultraleap is attempting to leverage the metaverse to the next level by understanding its implications and potential.
Definition of the metaverse
The ‘metaverse’ is a concept coined by science-fiction writer Neal Stephenson for an expansive virtual world, much like the internet but with a fully immersive 3D environment full of avatars and interactions. It offers a unique meta layer which is accessible by anyone with an internet connection, allowing people to interact with each other without the need for physical proximity.
Simply put – it’s an amalgamation of immersive technology, smartphones and gaming to create a completely interactive virtual world in which people can exist and interact. As such, it takes form in multiple guises, including:
- Virtual reality (VR)
- Augmented reality (AR)
- Mixed reality (MR)
- Extended reality (XR)
- 3D features on web browsers (& mobile devices)
The metaverse provides a platform that lets individuals participate in high-fidelity interaction activities like socialising, buying/selling goods & services, playing games etc., whether through virtual avatars or by “linking up” to real world counterparts – from businesses & schools to cultural venues & sporting matches. This opens up new ways of communication and participation never seen before – fostering greater collaboration between remote communities and providing access to entertainment experiences that have not previously been possible.
Potential applications of the metaverse
The potential applications of a metaverse are limitless. The Metaverse is a digital representation of the real world, enabling users to explore and interact with highly realistic, simulated environments that mimic and co-exist with our physical world. It could be used for social networking, gaming, shopping, entertainment, business collaboration and more. Some potential applications could include:
• Exploring virtual worlds that allow people to experience different parts of the world they may not be able to physically visit.
• Online platforms for virtual events that can host large gatherings such as concerts, lectures and presentations while maintaining social distancing measures.
• Gaming environments where people can interact in virtual reality with friends or strangers worldwide in user-generated landscapes and scenarios.
• Virtual classrooms where teachers can create immersive learning experiences with 3D elements such as diagrams, videos or other interactive activities to engage students.
• A platform for online shopping that allows customers to explore and interact with products before making their purchase decisions.
• A realistic platform for business collaboration where geographically distributed teams can come together in a single environment to work on projects together collaboratively or attend meetings remotely without missing out on any important details.
Ultraleap raises £60 million in Series D fundraise to be the primary interface for the metaverse
Ultraleap, one of the leading companies in providing advanced hand tracking technology and haptic feedback, has recently raised £60 million in its Series D fundraise. This new investment is intended to accelerate the company’s mission to become the primary interface for the rapidly expanding metaverse, and allow Ultraleap to push past its competitors in the field.
Let’s explore what this could mean for the future of the metaverse.
Ultraleap’s technology and capabilities
Ultraleap is dedicated to creating a metaverse that puts people first, using technology as the primary interface. The company’s adaptive sensing and gesture detection technology is unlocking a new era of XR, expanding inputs beyond voice and touch. In addition, Ultraleap helps bridge the physical world with digital displays and environments through haptic technology and cutting-edge hand tracking.
Comprising hardware, software, interactions, and cloud services; the company’s unified HMI platform seamlessly synchronises natural interactions between virtual and physical objects making immersive experiences more understandable, intuitive, enjoyable and inspiring. This platform enables users to interact with digital images in much the same way they interact with physical objects using multiple haptic acts such as dynamic tapping, grabbing & dragging objects, looking around virtual objects within the environment all while developing better hand-eye coordination in real time.
In addition to providing developers full access to a straightforward coding experience for creating sophisticated user interfaces that leverage their products’ capabilities; Ultraleap also offers powerful middleware services designed to make integration painless for device manufacturers. These hardware agnostic solutions enable developers with minimal hardware knowledge and manufacturers with minimal software knowledge to communicate effectively between devices. Through this comprehensive platform powered by advanced algorithms for recognizing human behaviour in real time Ultraleap will continue its mission of becoming the primary interface for this growing Metaverse.
Ultraleap’s vision for the metaverse
Ultraleap is dedicated to becoming the primary interface of the metaverse, enabling people to explore its potential for unprecedented collaboration, entertainment and interaction. It does this by creating bridges between physical and virtual worlds.
The company is anchored in technology developed by their team at Cambridge University, when their founders recognized that hand tracking provided an intuitive bridge between physical and digital worlds. They use optical sensors and AI-driven machine learning to make infrared ‘gestures’ a reality, allowing users natural interactions with digital content.
The goal is to bring people into a new world of human-computer interaction through frictionless 3D hand tracking technology that can be embedded in electronics products or integrated through Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR) displays. With this technology people can immerse themselves into rich interactive experiences that merge physical and digital reality together.
To reach the level where people can interact physically with virtual objects they need input from both sides; Ultraleap provides vision technology from one end while from the other side haptic feedback that allows you to put your hands into some action in an artificial environment as if it were real life. Haptic feedback provides a sense of touch where users naturally feel different textures or have some pushback like squeezing a ball or grasping an object with their hands in a virtual world.
With haptics capabilities combined with Ultraleap’s gesture recognition system users get a comprehensive metaverse experience, feeling like they are actually entering another world while simultaneously manipulating objects within it using natural gestures like squeezing, pushing, spinning and pinching according to their desired action to drive product engagement with minimal learning curve involved over time.