The HaptX team is pleased to announce that we’ve completed our Seed Round of funding, raising a total of $5.8M. This is the largest investment round to date for a virtual reality haptics company.
We’re even more excited about how we plan to put these funds to work – further developing our HaptX™ Platform. Our engineering team will continue to extend our leadership position in advanced haptic feedback. We’ll apply HaptX to new form factors, bringing unprecedented realism to virtual and augmented reality. This funding also enables us to deliver HaptX technology to our first enterprise customers, opening new possibilities in design and manufacturing, training and simulation, and location-based entertainment.
Our team envisions a world where you can’t tell what’s real from what’s virtual. Our HaptX Platform is the foundation for achieving this vision.
If you’d like to know more about partnering with HaptX, let’s get in touch.
You can join our journey by following us on Twitter. The future is looking – and feeling – very bright!
You can find the full announcement on Business Wire or read below:
HaptX secures largest ever seed round for haptics in virtual reality
$5.8M raise will enable realistic touch for virtual and augmented reality markets
SAN LUIS OBISPO, Calif. and SEATTLE, Wash., Dec. 7, 2016 – HaptX™, the pioneer in advanced haptic technology and creator of the HaptX™ Platform, announced today that it secured $5.8M in a recently-completed seed funding round. This represents the largest investment to date in a virtual reality haptics company. The round was led by NetEase (NASDAQ:NTES), a leading internet technology company in China, and Dawn Patrol Ventures, and includes former Twitter CEO Dick Costolo.
“Touch is one of the most fundamental ways we connect with the physical world,” said Bill Pang, Vice President of Corporate Development at NetEase. “HatpX’s platform brings realistic touch to digital experiences, transforming the way we design, play, and interact.”
“We envision a world in which virtual experiences are indistinguishable from real life,” said Jake Rubin, Founder and CEO of HaptX. “This funding enables us to deliver HaptX technology to our first enterprise partners. It’s a big step towards achieving our vision.”
HaptX is a haptic textile that simulates lifelike touch, allowing users to feel the physical properties of virtual objects. HaptX can bring the sense of touch to any surface. The lightweight, flexible material can be applied to wearables and other form factors. HaptX technology has broad enterprise uses in location-based entertainment, training and simulation, and design and manufacturing.
“HaptX delivers very realistic touch sensations, and will enable a new class of experiences in VR,” said Zvi Greenstein, General Manager of Consumer VR at NVIDIA Corporation. “It’s a great example of how our physics engine, NVIDIA PhysX, can be used to enable physically simulated touch sensations to deliver realism in VR.”
Additional participants in HaptX’s seed round included The Virtual Reality Company, Executive Vice President of Walt Disney Imagineering Jon Snoddy, Keeler Investment Group, and Digital Kitchen Founder and Chairman Paul Matthaeus. These investments add to a $1.2M friends and family round completed in 2014, bringing HaptX’s total funding to $7M.
Industry Applications for HaptX’s Technology
Examples of industries that will benefit from haptic technology in VR and AR include design and manufacturing, training and simulation, and location-based entertainment.
Design and manufacturing: Virtual reality provides CAD/CAM users with a compelling new medium for 3D content creation. Today, designers and engineers can’t physically interact with a product until after they build a prototype. With HaptX, designers can feel the 3D models they create throughout the product design process. HaptX enables professionals to swiftly prototype concepts, experiencing each with unprecedented realism. HaptX’s technology will transform the design and manufacturing process by combining the precision of CAD software with the hands-on intimacy of sculpting clay.
Training and simulation: HaptX offers a platform for realistic training and simulation for defense, industrial, and medical applications. HaptX technology enables a new level of authenticity, safety, and cost effectiveness for combat, surgical and workforce training.
Founded in 2012 by CEO Jake Rubin and Lead Engineer Dr. Robert Crockett, HaptX brings virtual worlds to life through the power of realistic touch. HaptX is a team of engineers, designers, and storytellers based in Seattle, WA (headquarters) and San Luis Obispo, CA. For more information, please visit HaptX.com or connect with us at:
Greg Bilsland, Sr. Communications Manager