Leap Motion, Inc., a San Francisco-based provider of motion tracking technology for natural input in virtual and augmented reality, raised $50m in Series C funding.
Backers included clients advised by JPMorgan Asset Management. As part of the funding round, Lawrence Unrein, the global head of JP Morgan Asset Management’s private equity group, joined Leap Motion’s board of directors.
The company intends to use the funds for global expansion, particularly in Asia, through the opening of an office in Shanghai, China; to advance innovation and adoption of its hand and finger tracking technology; and broaden its reach into new commercial and enterprise applications including education, healthcare, and industrial training simulation.
Founded in 2010 by Michael Buckwald, CEO, Leap Motion creates motion tracking technology for natural input in virtual and augmented reality. Products are used by technology companies such as Qualcomm, and by industrial designers, innovation labs, and academic researchers throughout the world to integrate motion tracking into a multitude of applications – from desktop and the Internet of Things, to virtual and augmented reality.