It exciting times for our Fund 2 portfolio company StretchSense!
We are pumped to continually support StretchSense and the incredible work of their founders Benjamin O'Brien, Todd Gisby, Iain Anderson, and the team on their journey to become a global leader in human machine interaction.
"The Auckland-based maker of motion-capture gloves, has raised $13 million to continue its comeback, and expand into the metaverse. The round was led by Edinburgh-based venture capital firm Par Equity, supported by Kiwi VC outfit Global From Day 1 (an existing investor) and Scottish Enterprise, Scotland’s national economic development agency." - NZ Herald
GD1 Founding Partner Chintaka Ranatunga has long been a supporter of the company and acknowledges the huge effort from Paul Atkinson, Tom Croy, Claire Cramm and Exec Chair Michael Riley in this collaborative round of funding.
"The Scottish connection came via GD1, whose partners Chintaka Ranatunga (Asia), Vignesh Kumar (the US) and John Kells (the UK) developed expansive networks during their time working offshore before they returned to Auckland to found their VC fund. " - NZ Herald
So what’s next?
Co-founder Ben O’Brien sees a big metaverse play in StretchSense’s future. The team will use the capital to focus on key partnerships, new technology, and investments in scale needed to build the future of how people will create, learn, work, and play. GD1 look forward to working with Par Equity and the StretchSense team on scaling the company and further international expansion.
Watch the video and read the full New Zealand Herald writeup below.
4th November 2022 - New Zeland Herald, Chris Keall - Getting to grips with the metaverse: StretchSense raises $13m
4th November 2022 - TechCrunch, Rebecca Ballan -StretchSense built and actually comfortable hand motion capture glove
4th Novemeber 2022 - Insider, Peter A Walker - Kiwi firm expands Edinburgh base, backed by £6.9 million investment