US-based haptic technology producer AxonVR raised $5.8m in seed funding yesterday from a consortium led by internet technology company NetEase.
The round also attracted virtual reality content studio Virtual Reality Company, Dawn Patrol Ventures and assorted angel investors including Jon Snoddy, executive vice-president of Walt Disney Imagineering, the R&D arm of entertainment company Walt Disney.
AxonVR is working on haptic technology called HaptX that enables users to feel as if they are physically touching virtual reality objects. The flexible material can be used in a range of products, including wearables.
AxonVR has now raised $7m in funding, claiming the $5.8m seed round is the largest such deal secured by a haptic technology developer to date. The company previously secured $1.2m from unnamed friends and family in 2014.
Jake Rubin, founder and chief executive of AxonVR, said: “We envision a world in which virtual experiences are indistinguishable from real life. This funding enables us to deliver HaptX technology to our first enterprise partners. It is a big step towards achieving our vision.”