Cambridge Touch Technologies has added $5.5m in series A1 funding to its coffers thanks to investors including Cambridge Enterprise.
Cambridge Touch Technologies (CTT), a UK-based touchscreen sensor spinout from University of Cambridge, closed a $5.5m series A1 yesterday backed by the university’s tech transfer arm Cambridge Enterprise.
Parkwalk Advisors, a fund management division of commercialisation firm IP Group, led the round, investing together with VC firm Amadeus Capital Partners, China Materialia and Downing Ventures.
Founded in 2011, CTT has developed a multi-finger input sensor that can be used for enhanced touchscreen interfaces in smartphones and other devices.
The technology recognises both the location and force of touchscreen interactions. Its artificial intelligence-based engine has allowed CTT to include only a single piezoelectric sensor, enabling compatibility with different screen sizes more easily than products with multiple sensors.
The series A1 cash will be allocated for business, product and market development over an 18-month period. A representative from China Materialia will join the CTT board of directors.
CTT received an undisclosed amount of funding in March 2018 from Parkwalk’s Opportunities Fund and University of Cambridge Enterprise V, an investment fund managed by Parkwalk on behalf of Cambridge Enterprise.
Cambridge Enterprise had previously led CTT’s December 2016 series A round of undisclosed size backed by Parkwalk and Amadeus, after both Cambridge Enterprise and Amadeus provided an unspecified sum of seed money that February.
Corbin Church, chief executive at CTT, said: “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.”
