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

Key investors in Ultraleap

  • IP Group
  • Woodford Investment Management
  • Dolby Family Ventures
  • Mayfair Equity Partners
  • Tencent
  • CMB International Capital Corporation

Ultraleap Overview

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

United KingdomBristol

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

Ultraleap valuation by funding round
DateStageValuation
Dec 2018Series 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

Ultraleap funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2021Series DBritish 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 2018Series CMayfair Equity Partners (lead); IP Group; Hostplus; Dolby Family Ventures; Woodford Investment Management$45M$191MUltraleap, 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 2017Series BIP Group; Cornes Technology; Dolby Family Ventures; Woodford Investment Management$23M--
Nov 2015Series AWoodford Investment Management (lead); IP Group$15M--
Nov 2014SeedIP 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

Investors in Ultraleap by funding rounds participated
InvestorHQRoundsRoleFirst check
IP GroupUnited KingdomLondon5ParticipantNov 2014
Woodford Investment ManagementUnited KingdomOxford3LeadNov 2015
Mayfair Equity PartnersUnited KingdomLondon2LeadDec 2018
Dolby Family VenturesUnited StatesSan Francisco, CA2ParticipantMay 2017
TencentChinaShenzhen1LeadNov 2021
QBN CapitalChinaHong Kong1ParticipantNov 2021
HostplusAustraliaMelbourne1ParticipantDec 2018
Cornes TechnologyJapanTokyo1ParticipantMay 2017

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Acquisitions 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

Leap Motion
Description
-
HQ CountryUnited States
HQ City
San Francisco, CA
Deal Date31 May 2019
Valuation$30M
EV/Revenue
EV/EBITDA

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Ultraleap Competitors

Ultraleap competitors include listed companies like GOLFZON Gold and Vuzix, and private ones like Varjo, Spatial, Transfr and Baofeng Mojing.

Public and private companies comparable to Ultraleap
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
VarjoFinlandHelsinkiPrivate$8M-$186M-
SpatialUnited StatesNew York City, NYPrivate$8M-$200M25.0x
TransfrUnited StatesNew York City, NYPrivate--$177M-
Baofeng MojingChinaBeijingPrivate--$213M-
GOLFZON GoldSouth KoreaSouth KoreaPublicly listed$258M$40M$219M-
VuzixUnited StatesUnited StatesPublicly listed$6M($29M)$232M33.9x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
GOLFZON Gold$258M$40M1.3x-8.6x-
Vuzix$6M($29M)35.9x33.9x(7.7x)-
Surgical Science$101M$18M1.9x1.9x11.2x9.4x
Kudan$8M($1M)12.1x13.3x(79.7x)-
Gumi$59M$15M1.4x1.5x5.6x-
MicroCloud Hologram$60M($14M)----
Virtuix Holdings$4M($13M)9.7x9.0x(3.3x)(3.8x)
PlaySide Studios$39M$11M0.8x0.8x2.7x3.0x

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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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