XR Tech Leader bHaptics Raises KRW 10 Billion in Series C Funding for Innovative Tactile Solutions
bHaptics, a Korean company specializing in XR tactile solutions, has secured Series C investment of KRW 10 billion. This funding round saw the participation of new investors such as KB Investment, KDB, and Hana Ventures.
Founded in 2015 to democratize haptic (tactile information transmission) technology, bHaptics is at the forefront of developing devices and software that provide tactile sensations to users of XR content. The company has a vision to make immersive haptic products widely accessible globally. Their products, particularly the TactSuit X40 and TactGlove, are designed to deliver optimal tactile patterns in sync with XR content, thereby enhancing user immersion. bHaptics also received significant attention at the recent CES 2024, the largest technology expo in the world.
During the funding process, bHaptics was awarded the highest grade, TI-1, in the Technology Credit Bureau (TCB) assessment, underscoring its robust technology and business viability.
A bHaptics spokesperson commented, “As the XR industry becomes more mainstream, the significance of tactile experiences that turn the unreal into the real will only increase. Our products enhance the realism of tactile sensations when used with XR content. Our leadership in popularizing tactile experiences in the XR industry has been a major factor in attracting additional investment. We plan to utilize this capital to grow as an important player in the tactile dimension of the expanding XR market.”
With ongoing investments from companies like Meta, the launch of Apple‘s VisionPro, and Samsung Electronics‘ collaborative development of an XR headset, the XR market is rapidly expanding. According to a report by global market research firm RESEARCH AND MARKETS in September last year, the XR market is expected to grow at an average annual rate of 41.6% from 2023, reaching a valuation of USD 936.6 billion by 2030. bHaptics is positioning itself as a key player in this burgeoning sector, providing critical tactile devices and software solutions.
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[…] XR technology leader bHaptics successfully raised KRW 10 billion in Series C funding, aiming to advance its innovative tactile solutions, further solidifying its position as a […]