Verizon Ventures, Mason Avenue Investments, and Taylor Frigon Capital Partners joined AIS Global and Crescent Cove Advisors, the leading creator, and producer of realistic haptic technology, in a USD 23 million strategic financing round for HaptX. The total amount of funding for HaptX now exceeds USD 58 million. HaptX was given financial advice from Centerview Partners.
With the money from this round, HaptX will be able to commercialize new products that will expand on the success of their acclaimed HaptX Gloves DK2 product. HaptX Gloves physically shift the user’s skin the same way a real object would, unlike other haptic gloves that can only vibrate and provide force feedback. They provide unmatched realism with more than 130 points of tactile feedback per hand. HaptX Gloves have been embraced by Fortune 500 organizations, governments, and the most demanding training and simulation, industrial design, and robotics applications.
HaptX has expanded its collaboration with AIS Global, a portfolio business of KPS Capital Partners, a New York-based corporation, in conjunction with this acquisition.
Joe Baddeley, Chief Executive Officer of AIS Global, stated, “HaptX and AIS Global have built a deep, successful relationship dedicated to innovation at the cutting edge of the high-growth global haptics market.” The resources, dedication, and knowledge required to enable the aggressive development of HaptX’s commercial footprint will be provided by AIS Global and KPS, which is happy to do so.
After giving HaptX a USD 4 million credit line in 2021, San Francisco-based Crescent Cove Advisors significantly boosted its position in HaptX during this funding round.
Jun Hong Heng, founder and chief investment officer of Crescent Cove Advisors, stated:
“HaptX has succeeded in generating substantial consumer demand across a wide array of application cases.” We think HaptX will be essential in realizing the Metaverse’s potential as a fully immersive 3D replacement for the current 2D internet.
According to Jake Rubin, founder, and CEO of HaptX:
“We are thrilled to have the support of partners like AIS Global and Crescent Cove fuelling our efforts to produce haptics so lifelike that consumers can’t discern between the virtual and the real.” With the help of this money, HaptX will be able to create innovative new products that will revolutionize how people engage with robots and virtual reality.
HaptX creates technologies with unmatched realism to imitate touch experience. For the first time, haptics and actual contact in virtual reality and robotics are made possible with HaptX Gloves. HaptX is a venture-backed firm with headquarters in San Luis Obispo, California, and Redmond, Washington.
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