HaptX, a pioneering Seattle-based haptics corporation bringing tangibility to virtual reality through HaptX gloves, has raised US$ 12 million in a Series A-1 funding round led by Verizon Ventures on 20 July 2021.
Investors: The investment round featured Verizon Ventures as the lead investor with participation from current investors, Upheaval Investments, Taylor Frigon and Mason Avenue Investments. The startup has, in total, secured US$ 32.5 million to date.
Purpose of the funding: The proceeds from the new investment round will be deployed towards recruiting new talent to meet the excess demand for its product.
About HaptX
Established in 2012 by Jake Rubin and Dr. Robert Crockett, HaptX creates technology propelling a touch feeling with unprecedented reality. HaptX Gloves DK2 allow innate inter-course and true-contact haptics in computer simulation and robotics. The startup employs exclusive microfluidic technology to recreate the touch sensation of tactile objects. Each DK2 glove characterizes over 130 distinct points of tangible response that materially take the place of the consumer’s dermis up to 2 mm. The gloves also include precise hand tracking with the help of an exclusive magnetic tech that deciphers 30 degrees of freedom per hand with sub-millimetre accuracy. On top of that, the latest gloves also possess a better hand-grip and have room-scale computer simulation support and multiple-user networking.
What the CEO and CRO have to say: “The pandemic has paced the use of virtual reality and telerobotics by businesses. Corporations rapidly realize the essence of true-contact haptics for upskilling, training, and robotics software. The latest investments and a new headquarters perfectly place us to increase the size of our team to cater for the rising demand.”- Jake Rubin, CEO and Co-Founder of HaptX. “We are exhilarated to greet our clients in the newly-furnished showroom located at the new headquarters. Clients will shortly experience the present and new-generation HaptX offerings and get the opportunity to connect with those who make them.”- Joe Michaels, Chief Revenue Officer(CRO) of HaptX.
What the Investors have to say: “HaptX’s high-end products make virtual reality a unique, delightful and realistic experience while confronting actual business requirements. Verizon’s 5G and MEC are monumental in allowing cordless VR for multiple software – particularly in a rapidly modifying workforce. We are exhilarated to aid the HaptX team to fulfil its vision .”- Michelle McCarthy, Managing Director of Verizon Ventures.
For more extensive analysis and Market Intelligence reports, feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
