Tencent Deepens Its AR Investment Portfolio with $50 Million in Funding for Ultraleap

Over the past decade, China tech giant Tencent has invested in several companies with varying roles in the augmented reality industry. Its latest bet backs a startup with some short-term impact related to the COVID-19 pandemic but more future-focused growth potential in the coming AR smartglasses era. Don't Miss: Ultraleap Improves Tracking of Two-Handed Interactions with Gemini Software UpdateAccording to a Sky News report, Image Frame Investment, Tencent's venture capital arm, will invest approximately $50 million into UK-based Ultraleap as part of the company's on-going Series D round of funding at a valuation of nearly$240 million. Ultraleap/YouTubeEmerging from Ultrahaptic's acquisition of Leap Motion, Ultraleap provides sensors and software for gesture recognition and touch-free haptic feedback. The company's technology has found demand during the pandemic, where interfaces that work without touching help prevent spreading the novel coronavirus. Most recently, Ultraleap has esta