Mayfair leads £35m round for Ultrahaptics

Existing investors IP Group, Woodford Investment Management and Dolby Family Ventures also took part in the funding round.

The deal represents the final investment from Mayfair's maiden fund, a £400m vehicle that closed in 2016. The GP is currently in the process of raising its second fund.

Following the deal, Ultrahaptics will invest in product development.

Previous funding
IP Group led a £600,000 seed round of funding for Ultrahaptics in 2014, drawing capital from IP Venture Fund II.

Woodford then led a £10.1m series-A round the following year, with IP Group and other investors also taking part.

Most recently, IP Group and Woodford took part in a £17.9m Dolby-led series-B for the company in 2017.

Company
Founded in 2013, Bristol-headquartered Ultrahaptics uses ultrasound to simulate the sensation of touch for virtual objects. Its products are used in applications including digital signage, industrial controls, medical interfaces, gaming and virtual reality.

People
Mayfair Equity Partners – Daniel Sasaki (managing partner).
Ultrahaptics – Steve Cliffe (CEO).

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