Robotics startup HaptX raises $4m investment from Crescent Cove Advisors to accelerate expansion
HaptX, the provider of realistic haptic gloves for VR and robotics, announced it has secured a $4 million credit facility from Crescent Cove Advisors, bringing HaptX's Series A funding to $28m, and the company's total funding to $35m.
HaptX's flagship product is HaptX Gloves DK2, the world's most advanced haptic feedback gloves. The new funding will accelerate expanded production of HaptX Gloves DK2, after the first production run sold out in less than six months. The credit facility will also be used to accelerate the development and commercial introduction of new haptic products.
Jake Rubin, Founder and CEO, HaptX: "Our partnership with Crescent Cove enables HaptX to continue to expand our reach and pioneer the frontier of virtual reality and robotics. HaptX is thrilled to join Crescent Cove's stellar portfolio of cutting-edge hardware and deep tech startups."
Jun Hong Heng, Founder and Chief Investment Officer, Crescent Cove: "HaptX's category-leading haptic technology enables a new level of immersive experiences in virtual reality. 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.