Berlin startup Lofelt pulls in $5.4 mln Series A


Berlin-based Lofelt, a maker of haptic solutions in consumer electronics, has raised $5.4 million in Series A funding. Wolfman One led the round with participation from Horizons Ventures, Q Venture Partners and Coparion.

PRESS RELEASE

Berlin — 14th November, 2017— Lofelt, the technology start-up that produces high-definition haptic solutions in consumer electronics and the creator of the Basslet (the watch-size subwoofer), is today announcing it has secured $5.4M in its Series A funding round.

The new funding round includes investment from existing investor Horizons Ventures (investors in Improbable, Teralytics and Zoom) and was lead by new investor Wolfman.One (investors in StriveWire and Spotted). Q Venture Partners and coparion complete the round.

Lofelt will use the additional financing to invest heavily in expanding its Berlin-based engineering team to accelerate the development of new user experiences and technologies.

The new haptic technology developed will aim to further Lofelt’s mission to create a natural connection between people and their digital devices, pushing both its innovations and the industry forward.

Daniel Büttner, Co-founder and CEO of Lofelt comments: “While screen and audio technologies have evolved exponentially, innovation in haptics has flatlined; creating a gap between today’s user experience and the potential of what new haptic technology can deliver. The problem is that haptic technology is often considered a secondary feature in product and experience design. We’re out to change that.”

Büttner continues: “In the near future, Lofelt’s technology will allow the use of high-definition touch feedback to deliver truly natural sensory interactions between people and their devices. We don’t see this as being limited to just smartphones and gaming, but instead will become prevalent across nearly all industries. We are on a mission to prove that haptics complete the audio-visual experience and our investment will be the vehicle for making thisvision a reality.”

About Lofelt:
In addition to creating the Basslet, Lofelt has developed solutions that are versatile, ready for mass market and available to transform a wide range of industries – including gaming, AR, VR, automobile, consumer electronics, toys, medical, entertainment and beyond. Lofelt’s solutions include:

● Intelligent Software: Lofelt’s solutions feature haptic rendering with ultra-low latency processing that integrates seamlessly with existing devices and platforms.

● Unique Hardware: Lofelt uses best-in-class actuators that are silent, energy-efficient and available in specific shapes and sizes. Each is capable of reproducing a wide range of responses and effects.

● Best in Class Engine: The Lofelt engine is the most powerful, accurate and efficient micro-actuator on the market. The innovative voice-coil design with optimised magnetic flows make it both remarkably compact and silent to the outside world. The Lofelt engine features key haptic sensitivity range of 45-100Hz.

About Horizons Ventures
The private investment arm of Mr. Li Ka-shing, is a leading investor in some of the world’s most innovative companies and disruptive technologies including Facebook, Waze, Spotify, Siri, Improbable, and Impossible Foods.

About DON Ventures
DON Ventures are self-financed investment entities led by angel investor Prof.Wolf Michael Nietzer, MBA and his Germany based WOLFMAN.ONE, providing venture capital financing from seed stage to early stage and series A as well as expertise, experience and contacts.

About Q Venture Partners
Q Venture Partners is an early-stage connected hardware and enabling technologies-focused VC firm. We provide value to our portfolio startups by sharing our engineering & manufacturing expertise, and helping them expand to Asian markets including China. Our focus areas include Consumer, Home & Vehicle, HealthTech, Industry 4.0 and Enabling technologies.

QVP’s portfolio of 15 stellar startups includes semiconductor manufacturer Ambiq Micro (investors include KPCB, DFJ, Cisco), thermoelectric energy harvesting startup Matrix Industries (founded at CalTech, backed by Khosla Ventures, 3M), Catalia Health (backed by Khosla Ventures, IDEO) who build personal AI-enabled robots for medication adherence, and many more.

About coparion
coparion provides venture capital to accelerate momentum and growth. With a current active fund of EUR 225 million coparion has the means to do so. coparion supports entrepreneurial vision with know-how, but without intervening in daily business operations. Thanks to in-depth experience in venture capital and in building companies, the coparion team discerns potentials and opens up new perspectives. coparion has the substance, tenacity and creativity required to mutually manage difficult situations successfully. coparion only invests with co-investors. The fund invests up to EUR 10m per company, usually in several financing rounds of EUR 0.5-3m each. Investment focus is on German companies in the start-up and early growth phase. coparion is based in Cologne and Berlin.