Touch screen tech developer bags $5.5m investment
A Cambridge-based company whose disruptive technology could revolutionise the touch screen market has closed a $5.5 million investment round to fuel its growth plans.
Cambridge Touch Technologies (CTT) develops AI-driven, 3D multi-touch technology for smart devices including smartphones, tablets, automotive and industrial applications.
The firm, which was spun out of the University of Cambridge, says its technology uses "the world’s simplest architecture" to deliver an all-screen, multi-finger 3D touch solution that can scale to all device sizes.
"The company has a number of opportunities to exploit with its technology, IP and first-class team, and this new funding will allow us to accelerate business, product and market development over the next 18 months," said CEO Corbin Church.
The investment was raised from existing backers Parkwalk Advisors, Cambridge Enterprise and Amadeus Capital Partners, who were joined by new investors China Materialia of Shanghai and Downing Ventures of London.
Church added: "We're delighted to welcome China Materialia and Downing Ventures, both highly-respected funds, who join our existing investors in backing the rapid growth of the business.
"In particular, we are pleased that the progress we have made in key elements of the technology, and with major customers in Asia, has allowed us to attract investment from that region, which is highly strategic for our commercialisation plans and roll-out."
CTT technology sits above or on the display due to its high transparency, and is fully compatible with OLED and LCD conventional or bezel-less 'infinity' screens, including flat, curved and newly emerging foldable and flexible devices.
Due to sophisticated software algorithms and artificial intelligence, the solution employs just a single, piezoelectric-based sensor for combined force and capacitive location sensing.
Moray Wright, co-founder of Parkwalk, said: “We are delighted to have led this funding round. CTT’s disruptive technology and processing solutions could revolutionise the touch screen market.
"We welcome China Materialia and Downing as new investors and look forward to taking this technology forward to commercialisation."
Ascendant Corporate Finance provided advice to CTT on the fundraising.
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