Augmented and virtual reality motion tracking leader Leap Motion, Inc. announced that it has secured $50 million in Series C funding to fund expansion into new territories and industries.
The Series C round further solidifies Leap Motion's standing as a cornerstone of augmented reality developer tools, alongside the likes of Unity, Unreal, and Vuforia. The company has its sights set on expanding in Asia, which they will facilitate by opening an office in Shanghai, China. They also plan to adapt their technology for commercial and enterprise solutions in education, healthcare, and industrial training.
"Natural input through full hand tracking is inseparable and fundamental to the future of VR/AR, and Leap Motion is a principal driver of its widespread adoption," said Michael Buckwald, CEO and Co-founder of Leap Motion, in a news release. "In much the same way as the touchscreen sparked the mobile revolution, Leap Motion is playing a transformative role in the development of human interface technology for VR/AR. As a result, the industry as a whole is on the verge of a similar moment of exponential growth."
The funding round was led by clients of J.P. Morgan Asset Management, who will place Lawrence Unrein, global head of the firm's private equity group, on Leap Motion's board of directors.
"Virtual and augmented reality technologies are evolving at a rapid pace, drawing significant attention from investors," said Unrein. "Leap Motion's suite of hardware and software designed for headsets falls squarely into this category, offering natural input through hand and finger tracking that can be integrated into any headset."
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