Tech firm developing $1 fingerprint sensors secures funding
A North Wales tech firm hoping to disrupt the authentication industry with new its new class of fingerprint sensors has secured seed investment.
Deepbridge Capital has invested an undisclosed sum in Touch Biometrix, which is currently working on what it describes as a 'new class' of fingerprint sensor to be used consumer electronics such as smartphones and laptops.
Based on its sensor designs and algorithms, the start-up's platform will enable fingerpritn sensors of any shape or size.
The firm is using proprietary production techniques in hopes to develop and manufacture $1 sensors by 2019.
"This seed funding round will enable Touch Biometrix to establish a minimum viable product, in collaboration with our supply chain partners," said CEO Mike Cowin.
"We are delighted to be supported by Deepbridge Capital who have a tremendous reputation for working with and supporting high-tech start-up companies."
Ian Warwick, managing partner at Deepbridge Capital, added: "We are delighted to be working in partnership with Touch Biometrix at what is an exciting time for the biometric industry.
"We understand there is an increasing need for secure user authentication technology and we believe Touch Biometrix has the capability to move quickly in this market, with this funding we have provided utilising the Seed Enterprise Investment Scheme being the initial catalyst. We look forward to working with the Touch Biometrix team as the company grows."
Touch Biometrix was founded in 2017 with the aim of becoming one of the top five fingerprint sensor suppliers by 2023.