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HaptX, a maker of data gloves for virtual reality, has raised $23 million to accelerate development of its next-generation haptic technology.
In an interview with Gamesbeat, CEO Jake Rubin said the Redmond, Washington-based Haptux brings the sensation of tactile to VR, making it more immersive for people to feel as though they were transported to another world. Is. The quality of “presence” that touch can bring is widely believed to be one of the requirements to feel like you’re inside a VR-based metaverse.
Haptx first launched its second development kit about two years ago, and it rolled out its first product in early 2021. Companies are using it for things like product design.
“In 2016, we started with a whole body immersion vision,” Rubin said. “We’ve continued that growth. We need to pick a piece of the market to bring the technology. The obvious place to start is with the hands, which are the most sensitive. That was the origin of the Heptux glove.”
AIS Global and Crescent Cove Advisors led the round, with participation from Verizon Ventures, Mason Avenue Investments and Taylor Frigon Capital Partners.
The investment brings HaptX’s total funding to more than $58 million. Centerview Partners acted as financial advisor to HaptX.
Haptux Gloves let you explore VR.
Proceeds from this round will be used to fund the commercialization of next-generation products, building on the success of HaptX’s award-winning HaptX Glove DK2. Unlike other haptic gloves that are limited to vibration and force feedback, HaptX gloves physically displace the user’s skin the way a real object would. They deliver unprecedented realism with over 130 points of tactile feedback per hand. Fortune 500 companies and governments around the world have adopted HeptX gloves for the most demanding applications in training and simulation, industrial design and robotics.
With this transaction, HaptX has extended its partnership with AIS Global, the portfolio company of New York-based KPS Capital Partners.
“HaptX and AIS Global have forged a deep, successful relationship dedicated to innovation in the high-growth global haptics market,” said Joe Badgley, CEO of AIS Global, in a statement. “AIS Global and KPS are thrilled to provide the resources, commitment and expertise needed to support the aggressive scaling of HAPTX’s commercial footprint.”
Heptux VR Gloves
San Francisco-based Crescent Cove Advisors has significantly increased its investment in HaptX
In this funding round after providing a $4 million credit facility to HptX in 2021.
“HaptX has been successful in generating tremendous customer demand across a wide range of use cases,” Jun Hong Heung, chief investment officer at Crescent Cove Advisors, said in a statement. “We believe HaptX will play a fundamental role in delivering on the promise of the Metaverse as an immersive 3D successor to today’s 2D Internet.”
“We are proud of the commitment of partners such as AIS Global and Crescent Cove Fueling.”
Our efforts to make Haptics so alive that users cannot differentiate between virtual and
Real,” said Jake Rubin, founder and CEO of HaptX. “This funding will enable
HaptX builds on the success of HaptX Gloves DK2 with exciting new products that will redefine
Virtual and robotic interactions. ,
As for the timing of the next generation of products from Haptx, Rubin said, “We’re not talking about a specific data yet, but obviously it will be very soon. And it’s a big plus for our products and our technology.” There will be a big leap.”
Dean Takahashi demonstrates the first generation Haptex gloves in 2018.
Rubin said the old system has been in the hands of a large number of customers and potential customers, and the company has gathered a lot of feedback.
“All of those learnings have gone into the feedback and its customers have moved on to these next-generation products,” Rubin said. “We will present a huge leap forward in terms of capabilities and scale in the future.”
The ambition is to eventually get a full-body suit that can capture haptic feedback like the body suits in the sci-fi movie ready player one, Rubin said the company is working on parallel research paths, one to improve the glove product and another to respond to other parts of the body.
The company currently has about 50 people and plans to double that next year.
“We’ve made an incredible amount of R&D progress,” Rubin said. “I’m incredibly excited to share what we’re doing. We’ll start touching on more consumer-oriented applications.”
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