Novasentis finds money in new name

Strategic Polymer Sciences (SPS), a sensory feedback spin-out of Pennsylvania State University, has secured $8m from the corporate venture capital unit of tech giant Samsung ahead of a name change.

Samsung Ventures joined existing backer Chengwei Capital in the $8m series B round into SPS, now known as Novasentis. Chengwei previously invested in the firm back in 2008 when it led a $3m series A round.

The funding will be used to scale up the production of California-based Novasentis’ sensory feedback technology, which allows users methods of interacting with devices such as vibration, touch feedback, and sound. The funding will also be used for the company’s rebranding as Novasentis, and its planned marketing campaign.

Christophe Ramstein, president and CEO of Novasentis, said: “Novasentis is headed into an exciting phase of growth and innovation, and this new funding confirms the importance of our technology and will enable us to take it even further. Our vision is to enable device manufacturers to create products that take human-machine interaction to the next level by adding true vibrations, movements and sounds. With its proprietary features, ultra thin and light form factors, and commercial viability, our EMP actuator and sensor technology is the perfect way to usher in this new age – which will bring with it even thinner and smaller devices that expand our sensory experiences. The investment from Samsung Ventures will reinforce our leading position and help serve all our customers better.”