Participated · Series C · Dec 2018

Ultraleap builds mid-air haptics and hand-tracking systems that use ultrasound to replicate touch, a technology demonstrated at TechCrunch Disrupt in 2017 and originating from CEO Tom Carter’s postgraduate research. The company merged with Leap Motion to combine hand tracking with mid-air haptics and has developed a fifth-generation hand-tracking platform called Gemini. Gemini is already integrated into multiple platforms and third-party hardware, including Qualcomm’s Snapdragon XR2 chipset and Varjo’s VR-3 and XR-3 headsets. Ultraleap is working with commercial customers such as PepsiCo and Lego for public interfaces and with automakers including DS Automobiles and suppliers like Hosiden for in-cabin experiences. The company plans to take Gemini to different operating systems, increase investment in tooling and R&D, and enable developers to expand applications across XR, automotive, and out-of-home use cases. Ultraleap recently raised an $82 million Series D to accelerate those efforts, citing metaverse interest and the pandemic-driven shift toward touchless interfaces as fundraising drivers. Ultrahaptics develops mid-air touch technology that projects ultrasound-driven tactile sensations using proprietary algorithms and supporting hardware. Founded in 2013 and based on technology developed at the University of Bristol, the company enables users to feel and interact with virtual objects and controls via freehand gestures. It is engaged with blue-chip customers across automotive (including concept vehicles with Bosch and Harman), digital signage, location-based entertainment, industrial controls, medical interfaces, VR games and AR/VR enterprise applications. The company also supports the international academic community through a program designed to enable additional haptics research and development. Ultrahaptics raised £35m ($45m) in a Series C and intends to use the funds to further develop and commercialize its haptic technology in next-generation user interfaces and experiences. Led by CEO Steve Cliffe, the company is positioning for broader commercialization across key verticals. Ultrahaptics develops a platform that uses ultrasound waves to construct 3D, touchable sensations in mid-air, enabling users to flip invisible switches and turn dials without physical contact. The company positions the technology as a solution for VR/AR input and is exploring integrations both as an attached headset device and as a tabletop experience. A major commercial focus is automotive: Ultrahaptics is working with partners to embed its haptics into car dashboards for gesture-based controls. The company currently offers a Touch development kit for developers and plans a quarter-based update to provide a library of sensations for integration. Ultrahaptics is still early in finding widespread use cases but is actively seeking customers across industries. Financially, the company recently completed a Series B and has raised nearly $40 million to date. Ultrahaptics is a Bristol, UK-based developer and licensor of mid-air haptic technologies. The company's core product uses ultrasound to project tactile sensations through the air so users can feel touch-less buttons, receive feedback for mid-air gestures, or interact with virtual objects without wearing or touching devices. Led by CEO Steve Cliffe and CTO Tom Carter, Ultrahaptics develops and licenses its mid-air haptics technology to partners. The company raised £10.1m in a Series A funding round, bringing total funding to £11.3m to date. Ultrahaptics intends to use the funds for continued development of its ultrasound-based technology. Ultrahaptics has developed ultrasonic free-space haptics technology that creates the sensation of touch in mid-air by projecting ultrasound. Users can hold their hand over ultrasound speakers to feel virtual objects and operate switches and buttons. The company says the technology can be applied to a wide range of interfaces and is already engaged with key partners in multiple markets. Management describes the innovation as disruptive to how people interface with technology and sees near‑term work on broadening application areas. Financially, Ultrahaptics is receiving grant support to advance commercial development and applications. The company is based in Bristol, England.

Participated · Series B · Nov 2018

Spin Memory develops STT‑MRAM IP and products that aim to provide SRAM‑like speed and endurance for embedded and stand‑alone memory applications. The company positions its technology as a replacement for embedded SRAM and ultimately DRAM in applications across AI, ADAS, 5G, and IoT. Spin Memory recently rebranded from Spin Transfer Technologies to emphasize its shift to offering a full suite of MRAM solutions and an MRAM IP ecosystem. As part of its commercialization push, the company announced commercial agreements with Applied and Arm to create an embedded MRAM solution and to license its Endurance Engine design IP for SRAM applications in SoCs. The company says these collaborations and its funding model are intended to establish MRAM as a mainstream alternative to existing embedded memories.

Participated · Series B · Sep 2018

Genomics develops precision healthcare tools using large-scale genetic data to generate personalised and population-level polygenic risk assessments. Its core product comprises proprietary algorithms and databases that link small genomic variations across thousands of studies to estimate individual risk for common diseases and cancers. The company positions its technology within genomic prevention to enable targeted interventions and tailored screening to prevent disease or catch it early. Genomics plans to use the new £35M funding to further develop its risk estimation technology and to expand its workforce as it aims to reach profitability. It has a team of over 100 people, more than 50% of whom are women with PhDs, and maintains offices in the UK and the US. The company expects adoption to scale over the next decade, forecasting that genetic information will become ubiquitous in healthcare systems and that millions in the UK will soon have personalised risk information based on its tools. Genomics plc is a data science company that uses human genetic information to improve drug development. Its core offering is an analysis engine that links genetic variation at over 14 million positions to changes in 7,000 molecular, cellular, and physiological measurements and disease outcomes, totaling over 100 billion data points. The company applies proprietary machine learning and statistical algorithms to predict the impact, efficacy, and safety of therapeutic interventions. Formed in 2014 by four University of Oxford scientists including Professors Peter Donnelly and Gil McVean, Genomics is based in Oxford, UK. It closed a £25m Series B led by Vertex Pharmaceuticals and plans to use the proceeds to expand, enhance its database, and pursue opportunities in the space. Genomics has also announced a collaboration with Vertex to further advance drug development efforts.

Participated · Equity · Jun 2018

Metaboards develops metamaterials-based wireless charging technology intended to eliminate alignment requirements and enable charging of multiple non-metal devices on the same surface. Its approach uses engineered metamaterials arranged in geometric structures to improve vertical reach and penetration, allowing chargers to be placed under surfaces and charge through tabletops. Founded in 2016 by Oxford University professors and researchers, the company has a working prototype it plans to demo at CES and Mobile World Congress. Metaboards is in discussions with OEMs and says companies have expressed interest in licensing the technology within six to 12 months. The startup will use the $5 million funding to expand the team and to bring its patented technology to market and extend capabilities across wireless power platforms. Investors in the round include Oxford Sciences Innovation, RT Capital Management, and Woodford Investment Management, with Oxford Sciences Innovation leading the financing.

Participated · Equity · Apr 2018

BenevolentAI's core product is an "AI brain" built by a team of scientists to ingest and compute billions of data points across domains such as health and material science. That platform is used by its Benevolent Bio division to accelerate drug discovery and by other teams to explore materials and energy applications. Benevolent Bio currently has two drugs in more advanced stages, including a Parkinson's drug in Phase 2B and an ALS program projected to be about five years from trials. The company is expanding into adjacent areas like material science, agriculture, and veterinary science to pursue high‑heat materials and next‑generation battery chemistries. Founded in 2013 and based in London, BenevolentAI has 155 employees and projects headcount of about 300 by year‑end. Financially, it raised $115M in the latest venture round at a $2.1B post‑money valuation and has raised more than $200M to date.