Leap Motion, the company best known for its suite of hardware and software for tracking hand movement in virtual spaces, has closed out a round of Series C funding and obtained an additional $50 million in the process.
The VR and AR-minded company says the funds will accelerate the adoption of its finger tracking tech, help it reach out and introduce hand-tracking technology to more industries, and boost its global expansion efforts as it opens a new office in Shanghai, China.
The round was led by a series of investors under J.P. Morgan Asset Management’s Private Equity Group who note that the rapid evolution of augmented and virtual reality tech is what attracted them to Leap Motion’s operations. Following the hefty investment, the group’s global head has joined Leap Motion’s board of directors as well.