Deepbridge Capital backed the seed round to support the commercialisation of advanced space propulsion systems.
"We have been delighted with our progress to date and the significant interest in our technologies from major players in our sector. This next stage of development will see the Company expand on these exciting relationships whilst continuing our product development."
The financing round was backed by Tencent, British Patient Capital, CMB International, Mayfair Equity Partners, and IP Group.
"The metaverse concept is not new to Ultraleap. It has always been our mission to remove boundaries between physical and digital worlds. The pandemic has accelerated the rise of the term as more people now understand the power of enhancing the physical world with digital elements."