Hand-tracking company Leap Motion has raised another $50m in Series C funding led by JP Morgan Asset Management, the firm has announced. This brings Leap Motion's total fund-raising amount to just over $94m, according to Crunchbase.
As described in a blog post on Leap Motion's website, the funding will allow the company to further expand its worldwide operations, as well as open a new office in Shanghai, where it hopes to further advance its hand and finger-tracking technology with new applications including education, healthcare and industrial training simulators.
Lawrence Unrein, the global head of JP Morgan Asset Management's private equity group, will also join Leap Motion's board of directors as part of the funding round.
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 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."
Unrein added: Virtual and augmented reality technologies are evolving at a rapid pace, drawing significant attention from investors. 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."
Founded in 2010, Leap Motion aims to revolutionise hand-tracking technology for VR and AR businesses. While we've yet to see a major headset manufacturer incorporate Leap Motion's technology into new devices, it seems investors still see plenty of value in the company.