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- Ultraleap
Ultraleap Valuation, Funding & Investors
Ultraleap is valued at $191M as of December 2018.
Last Ultraleap valuation
$191M
Series C · Dec 2018
Last Ultraleap funding round
$80M
Series D · Nov 2021
Cumulative funding Ultraleap raised
$164M
across 5 funding rounds
About Ultraleap
Ultraleap is a Bristol-headquartered pioneer in ultrasound-based haptics and computer vision technologies. The company develops mid-air haptic feedback systems that generate tactile sensations using focused sound waves, enabling touchless interactions for AR/VR headsets and interactive displays. Its hand tracking software supports precise gesture recognition without cameras or wearables. Ultraleap licenses its HyperSound audio tech for directional speakers in automotive dashboards and public kiosks. Serving clients like Qualcomm and BMW, it holds over 200 patents. Rebranded from Ultrahaptics in 2020, Ultraleap operates development centers in the UK and US.
Founded
2013
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing
Valuation
$191M (Dec 2018)
Sectors
Ultraleap Valuation
Ultraleap is currently valued at $191M, based on its Series C in December 2018.
The $45M round was led by Mayfair Equity Partners, with participation from IP Group, Hostplus, Dolby Family Ventures and Woodford Investment Management.
Ultraleap valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Dec 2018 | Series C | $191M |
Ultraleap Funding History
Ultraleap has raised a total of $164M across 5 funding rounds.
Ultraleap's first fundraising round was a $900K seed round in November 2014. The most recent completed round was a $80M Series D in November 2021.
Ultraleap funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2021 | Series D | British Patient Capital (lead); CMB International Capital Corporation (lead); Tencent (lead); Mayfair Equity Partners; IP Group; QBN Capital | $80M | - | Ultraleap, a UK-based company specializing in hand-tracking and mid-air haptic technologies for extended reality (XR), out-of-home, automotive, and kiosk applications, completed a Series D funding round on approximately November 17, 2021, raising £60 million (about $82 million). The round was led by Tencent, British Patient Capital via Future Fund: Breakthrough, and CMB International Capital Corporation, with participation from existing investors IP Group and Mayfair Equity Partners. Ultraleap, formed from the merger of Ultrahaptics and Leap Motion, employed over 150 people across Europe, North America, and Asia at the time. Post-round, IP Group reported an undiluted beneficial holding of 17.2% in Ultraleap, reflecting a £11.6 million fair value uplift on their investment. The funds were earmarked to develop and commercialize Ultraleap's technologies for next-generation computing platforms, including spatial computing stacks for XR and touchless interfaces, amid rising interest in the metaverse and pandemic-driven demand for contactless solutions. The company aimed to expand hand-tracking (Gemini) across operating systems, enhance developer tools, and advance machine-learning-based tracking. Subsequent developments saw Ultraleap raise over $200 million total but face challenges, breaching loan terms by 2023 and selling parts of its business in 2024 amid AR/VR market underperformance, leading to layoffs of over half its staff. |
| Dec 2018 | Series C | Mayfair Equity Partners (lead); IP Group; Hostplus; Dolby Family Ventures; Woodford Investment Management | $45M | $191M | Ultraleap, formerly Ultrahaptics, develops hand-tracking and mid-air haptics technologies for spatial computing across automotive, medical, industrial, and entertainment sectors. The company raised a £35 million (approximately $44.7 million) funding round around December 2018 led by Mayfair Equity Partners, with participation from investors including Dolby Family Ventures, Hostplus, IP Group, and Woodford Investment Management. This Series C round marked the entry of private equity investor Mayfair, providing support in operational controls, governance, growth planning, and M&A activities. Following the round, Ultraleap acquired Leap Motion in May 2019, enhancing its hand-tracking capabilities. Mayfair's involvement emphasized active partnership, aiding in securing licensing deals and strategic development. Subsequent rounds included a Series D in 2021 raising $80.85 million with investors like British Patient Capital, CMB International Capital, IP Group, Mayfair Equity Partners, and Tencent, where a Tencent subsidiary invested $50 million, reportedly taking valuation to nearly $240 million. |
| May 2017 | Series B | IP Group; Cornes Technology; Dolby Family Ventures; Woodford Investment Management | $23M | - | - |
| Nov 2015 | Series A | Woodford Investment Management (lead); IP Group | $15M | - | - |
| Nov 2014 | Seed | IP Group | $900K | - | - |
Who has invested in Ultraleap?
10 investors have backed Ultraleap across its funding rounds, including IP Group, Woodford Investment Management, Dolby Family Ventures, Mayfair Equity Partners, Tencent and CMB International Capital Corporation.
Lead investors include British Patient Capital, CMB International Capital Corporation, Tencent, Mayfair Equity Partners and Woodford Investment Management.
Ultraleap Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Participant | Nov 2014 | ||
| 3 | Lead | Nov 2015 | ||
| 2 | Lead | Dec 2018 | ||
| 2 | Participant | May 2017 | ||
| 1 | Lead | Nov 2021 | ||
| 1 | Participant | Nov 2021 | ||
| 1 | Participant | Dec 2018 | ||
| 1 | Participant | May 2017 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Ultraleap
Ultraleap has acquired 1 company to date.
Last acquisition by Ultraleap was on May 31st 2019. Ultraleap acquired Leap Motion for $30M.
Latest Acquisitions by Ultraleap
| Description | - |
| HQ Country | |
| HQ City | San Francisco, CA |
| Deal Date | 31 May 2019 |
| Valuation | $30M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Ultraleap acquisitions and their M&A valuation multiples. Start Free Trial | |
Ultraleap Competitors
Ultraleap competitors include listed companies like GOLFZON Gold and Vuzix, and private ones like Varjo, Spatial, Transfr and Baofeng Mojing.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $8M | - | $186M | - | ||
| Private | $8M | - | $200M | 25.0x | ||
| Private | - | - | $177M | - | ||
| Private | - | - | $213M | - | ||
| Publicly listed | $258M | $40M | $219M | - | ||
| Publicly listed | $6M | ($29M) | $232M | 33.9x |
Ultraleap Public Comps
Ultraleap is still privately-owned, but its public comps include GOLFZON Gold, Vuzix, Surgical Science, Kudan, Gumi, MicroCloud Hologram, Virtuix Holdings, PlaySide Studios, xReality Group and Metavista3D.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $258M | $40M | 1.3x | - | 8.6x | - | |||
| $6M | ($29M) | 35.9x | 33.9x | (7.7x) | - | |||
| $101M | $18M | 1.9x | 1.9x | 11.2x | 9.4x | |||
| $8M | ($1M) | 12.1x | 13.3x | (79.7x) | - | |||
| $59M | $15M | 1.4x | 1.5x | 5.6x | - | |||
| $60M | ($14M) | - | - | - | - | |||
| $4M | ($13M) | 9.7x | 9.0x | (3.3x) | (3.8x) | |||
| $39M | $11M | 0.8x | 0.8x | 2.7x | 3.0x | |||
This data is available for Pro users. Sign up to see all Ultraleap competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Ultraleap
| When was Ultraleap founded? | Ultraleap was founded in 2013. |
| Where is Ultraleap headquartered? | Ultraleap is headquartered in Bristol, United Kingdom. |
| Is Ultraleap publicly listed? | No, Ultraleap is a private, VC-backed company. |
| What is Ultraleap's valuation? | Ultraleap was last valued at $191M in its Series C in December 2018. |
| How much funding has Ultraleap raised? | Ultraleap has raised $164M across 5 funding rounds. |
| What was Ultraleap's last funding round? | Ultraleap's last funding round was a $80M Series D in November 2021, led by British Patient Capital, CMB International Capital Corporation and Tencent. |
| Who are Ultraleap's investors? | Ultraleap's investors include IP Group, Woodford Investment Management, Mayfair Equity Partners, Dolby Family Ventures, Tencent, QBN Capital, Hostplus, Cornes Technology, British Patient Capital and CMB International Capital Corporation. |
| Which companies are comparable to Ultraleap? | Companies comparable to Ultraleap include Varjo, Spatial, Transfr, Baofeng Mojing, GOLFZON Gold and Vuzix. |
| How many companies has Ultraleap acquired? | Ultraleap has acquired 1 company, including Leap Motion. |
| What was the largest acquisition by Ultraleap? | The $30M acquisition of Leap Motion in May 2019 is the largest acquisition Ultraleap has made to date. |
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