HaptX, a provider of realistic haptic gloves for virtual reality and robotics, secured a $4 million credit facility from Crescent Cove Advisors. The $4 million investment brings HaptX’s Series A funding to $28 million and the company’s total funding to $35 million.
HaptX’s flagship product is HaptX Gloves DK2, which are advanced haptic feedback gloves. The new funding will accelerate expanded production of HaptX Gloves DK2 after the first production run sold out in fewer than six months. HaptX will also use the credit facility to accelerate the development and commercial introduction of new haptic products.
“Our partnership with Crescent Cove enables HaptX to continue to expand our reach and pioneer the frontier of virtual reality and robotics,” Jake Rubin, founder and CEO of HaptX, said. “HaptX is thrilled to join Crescent Cove’s stellar portfolio of cutting-edge hardware and deep tech startups.”
“HaptX’s category-leading haptic technology enables a new level of immersive experiences in virtual reality,” Jun Hong Heng, founder and chief investment officer at Crescent Cove Advisors, said. “HaptX technology will be a foundational component of the Metaverse, and we’re proud to become one of the company’s long-term capital partners.”
Prior investors in HaptX include Verizon Ventures, Mason Avenue Investments, Taylor Frigon Capital Partners and Upheaval Investments.
