VC firms invest £9.2m in tech firm Peratech
North Yorkshire tech firm Peratech has raised £9.2m in funding from venture capital firms Merck Ventures and Arie Capital, along with existing investors.
Peratech, founded in 1996, describes itself as a world leader in 3D force-sensing technologies which have the potential to disrupt the way people use touch sensing in the mobile, automotive, industrial and medical device markets.
The Richmond-based company said the investment sends a ‘clear signal of confidence’ in its Quantum Tunnelling Composite (QTC) technology, which enables more intuitive and safe human-machine interfaces while reducing accidental or false touches.
“The strong financial backing from our new and current investors enables Peratech to accelerate new-product integration for market leaders in a variety of applications,” said chief executive Jon Stark.
“This investment also gives us the bandwidth not only to commercialise current solutions, but to complete development of transparent and higher-resolution sensor technologies with new deposition modalities for a wider range of next-generation human-machine experiences.”
Sven Harmsen, investment director with Merck Ventures, says leading the funding round in Peratech underlines the firm’s ambition to invest in “game-changing materials innovations”.
He added: “We are excited to see Peratech develop and commercialise a technology that has the potential to disrupt the way we use touch sensing in the mobile, automotive, industrial and medical device markets.
“The timing is right as leading OEMs [original equipment manufacturers] in these markets are starting to deploy innovative HMIs utilising force and 3D touch. Peratech’s technology is ready for commercial use and it can further scale its product engineering and manufacturing.”
Paratech's technology is used in a number of markets including consumer electronics, automotive electronics, industrial and smart homes and appliances.