July 20, 2021
HaptX, which develops realistic haptic feedback technology, has announced raising $12 million in a Series A-1 financing round, along with a new headquarters in the Seattle area. The company also announced a second manufacturing run of its HaptX Gloves DK2, advanced haptic feedback gloves, after selling out the first run in less than six months.
“The COVID-19 pandemic accelerated enterprise adoption of virtual reality and telerobotics,” said Jake Rubin, founder and CEO of HaptX. “Companies are increasingly recognizing the value of true-contact haptics for training, design, and robotics applications. With fresh capital and a new state-of-the-art headquarters, we’re well positioned to scale our workforce to meet this growing demand.”
The latest funding brings the company’s total funding to $31 million. The latest round includes participation from existing investors Verizon Ventures, Mason Avenue Investments, Taylor Frigon Capital Partners, and Upheaval Investments.
“HaptX’s advanced technologies make virtual reality a more fully immersive and realistic experience while addressing real-world enterprise needs,” said Michelle McCarthy, a managing director of Verizon Ventures. “Verizon’s 5G and MEC are instrumental in enabling wireless VR for multiple applications – especially in a quickly evolving workforce. We look forward to supporting the team’s vision and technology.”
The new headquarters in Redmond, Wash., features 15,000-square-feet of office and warehouse space. The company also expanded its San Luis Obispo office footprint by more than 50%, and it said it will add dozens of new positions across all areas of the company.
“We can’t wait to bring HaptX customers to the hardware showroom in our new headquarters,” said Joe Michaels, chief revenue officer at HaptX. “Customers will soon be able to experience current and next-generation HaptX products and meet the talented people who make them.”
The company’s HaptX Gloves enable natural interaction and true-contact haptics in both VR and robotics applications. For more details on its technology, visit the company website here.