HaptX Closes $23 Million Strategic Funding Round Led by AIS Global and Crescent Cove Advisors
Summary
New investment will accelerate commercialization of HaptXs next-generation product suiteREDMOND, Wash., Sept. 15, 2022 /PRNewswire/ -- HaptX, the leading innovator and provider of realistic haptic technology, today announced a $23 million strategic funding round led by AIS Global and Crescent Cove Advisors, with participation from Verizon Ventures, Mason Avenue Investments, and Taylor Frigon Capital Partners. "HaptX has succeeded in generating tremendous customer demand across a wide array of use cases," said Jun Hong Heng, Founder and Chief Investment Officer of Crescent Cove Advisors. ""We are proud to have the commitment of partners like AIS Global and Crescent Cove fueling our efforts to build haptics so lifelike that users cant distinguish between the virtual and the real," said Jake Rubin, Founder and Chief Executive Officer of HaptX. Established in 2016, Crescent Cove leverages its global network of relationships and unique insight across markets, emerging industries and technologies to build businesses and accelerate value creation across its portfolios. KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage.