AR and VR Startup Leap Motion Closes $50 Million

Leap Motion announced it has raised $50 million in Series C financing. Two investors contributed to the round, among them JPMorgan Partners.

Leap Motion is a software and hardware company that is developing 3D motion-control technology for virtual reality and other platforms. The company’s unique hand tracking function allows users to reach into virtual and augmented reality scenes to interact with virtual worlds. Leap Motion is currently partnering with major VR manufacturers to embed Leap Motion technology into mobile VR/AR headsets.

The company revealed that the funding will enable Leap Motion to drive global expansion, particularly in Asia, which the company will serve through the opening of an office in Shanghai, China. It will also be used to advance innovation and adoption of its hand and finger tracking technology and to broaden its reach into other commercial and enterprise sectors, including education, healthcare, and industrial training simulation.