IP Group PLC Ultrahaptics completes £35.0m funding round (1457J)
03 December 2018 - 6:01PM
UK Regulatory
TIDMIPO
RNS Number : 1457J
IP Group PLC
03 December 2018
FOR RELEASE ON 03 December 2018
IP Group plc - Portfolio company Ultrahaptics completes GBP35.0m
funding round
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the
developer of intellectual property-based businesses, is pleased to
note that portfolio company Ultrahaptics ("Ultrahaptics" or "the
Company"), the world leader in haptics technology creating
sensations of touch in mid-air, has completed a GBP35.0m
fundraising.
The round, which was oversubscribed, was led by Mayfair Equity
Partners, with additional new investors including Hostplus, the
major Australian superannuation fund, with further participation
from existing shareholders IP Group, Woodford Investment, Cornes
Technology and Dolby Family Ventures. The new funds will enable
Ultrahaptics to further develop and commercialise its revolutionary
haptic technology in next generation user interfaces and
experiences.
IP Group holds a direct undiluted beneficial stake of 21.1% in
Ultrahaptics and is reviewing the carrying value of this asset as
part of its year-end audit. IP Venture Fund II has an 8.0% stake.
IP Group and IP Venture Fund II committed GBP0.4m and GBP0.2m
respectively to the fundraising, and prior to this have invested
GBP6.0m and GBP1.6m respectively in the Company.
Dr Mark Reilly, Managing Partner of Technology at IP Group plc,
said: "We are delighted to welcome such high-quality new investors
to join us in supporting the next stage of growth at Ultrahaptics.
The company is yet another example of a top UK 'deep tech' start-up
nurtured from day one by IP Group."
Ultrahaptics, which is based on technology developed at the
University of Bristol, is currently engaged with blue-chip
customers across key verticals such as automotive, where the
company has developed concept vehicles with Bosch and Harman;
digital signage; location-based entertainment; industrial controls;
medical interfaces; VR games; and augmented reality / virtual
reality (AR / VR) enterprise applications. The company also
supports the international academic community through a programme
designed to enable additional haptics research and development.
The funding round was advised by IP Group's 100%-owned
FCA-authorised subsidiary IP Capital.
For more information, please contact:
IP Group plc www.ipgroupplc.com
+44 (0) 20 7444 0050
Alan Aubrey, Chief Executive Officer
Greg Smith, Chief Financial Officer +44 (0) 20 7444 0062/+44 (0)
Liz Vaughan-Adams, Communications 7979 853802
Charlotte Street Partners
Andrew Wilson +44 (0) 7810 636995
Martha Walsh +44 (0) 7876 245962
Tom Gillingham +44 (0) 7741 659021
Notes for editors
About IP Group
IP Group is a leading intellectual property commercialisation
company which focuses on evolving great ideas, mainly from its
partner universities, into world-changing businesses. The Group has
pioneered a unique approach to developing these ideas and the
resulting businesses by providing access to business building
expertise, capital (through its 100%-owned FCA-authorised
subsidiaries IP Capital and Parkwalk Advisors), networks,
recruitment and business support. IP Group has a strong track
record of success and its portfolio comprises holdings in
early-stage to mature businesses across life sciences and
technology. IP Group is listed on the Main Market of the London
Stock Exchange under the code IPO.
Group holdings in portfolio companies reflect the undiluted
beneficial equity interest excluding debt, unless otherwise
explicitly stated.
For more information, please visit our website at
www.ipgroupplc.com.
ENDS
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCLLLLBVLFFFBX
(END) Dow Jones Newswires
December 03, 2018 02:01 ET (07:01 GMT)
Ip (LSE:IPO)
Historical Stock Chart
From Apr 2024 to May 2024
Ip (LSE:IPO)
Historical Stock Chart
From May 2023 to May 2024