Peratech raises $12.4 million (£9.2million) in financing from Merck Ventures, Arie Capital and existing investors to scale up technology solutions
Richmond, North Yorkshire, UK – 23 October 2017.Peratech, a world leader in 3D force-sensing technologies, announced it has subscribed$12.4 million (£9.2 million)to the round of funding, led by Merck Venturesthe venture capital wing of Merck, along with Arie Capital and existing investors.
This investment sends a clear signal of confidence in Peratech’s proprietary Quantum Tunnelling Composite (QTC®) technology to enable more intuitive and safe human-machine interfaces (HMI), while reducing accidental or false touches.
Sven Harmsen, Investment Director with Merck Ventures said, “Leading Peratech’s round of financing underlines Merck Ventures’ ambition to invest in game-changing materials innovations. We are excited to see Peratechdevelop and commercialisea 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 scaleits product engineering and manufacturing.”
Simon Tobelem, Founder at Arie Capital, agreed saying, “We are impressed with the talented team, strong IP portfolio, and variety of potential applications for QTC technology. Our investment in Peratech aligns with our core components for communication and mobile technologies such as IoT connectivity and gesture recognition chips.This round provides the company with enough resources to better address these markets where its 3D force-touch technology has the potential to be very disruptive.”
“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 Jon Stark, Peratech’s CEO.“This investment also gives us the bandwidth not only to commercialise current solutions, but to completedevelopment of transparent and higher-resolution sensor technologieswith new deposition modalities for a wider range of next-generation human-machine experiences.”
About Peratech
Based on patented Quantum Tunnelling Composite (QTC®) technology, Peratech’s award-winning, thin and flexible force sensors bring a new dimension to tactile user interfaces, enabling intuitive, consistent experiences in a wide variety of applications and markets.Over a million devices around the world now employ Peratech QTC® technology. Peratech’s custom design and product integration engineering servicesminimise both cost and time to mass product launch. Peratech Holdco Ltd. is a privately held company based in Richmond, North Yorkshire, UK.
About Merck Ventures
Merck Ventures is the strategic, corporate venture capital arm of Merck. Its mandate is to invest in innovative technologies and products with the potential to significantly impact Merck’s core business areas. From its headquarters in Amsterdam and offices in the US and Israel it invests globally in transformational ideas driven by great entrepreneurs. Merck Ventures takes an active role in its portfolio companies and teams up with entrepreneurs and co-investors to translate innovation towards commercial success. Merck Ventures has a significant focus on early-stage investing and company creation including the creation of spin-offs to leverage Merck’s science and technology base.
About ARIE Capital
ARIE Capital invests in “deeper” and game-changing technologies in key industries with a strong emphasis on cross-border investments. The group initiated and successfully launched the 1st UK-Israel-China venture capital fund and has expanded its funds both in and outside China, including the 1st UK – Israel dedicated EdTech Fund. ARIE Capital’s unique approach combines financial investment with strategic partnerships and intensive business-development support to optimize value creation thanks to its strong network of Chinese investors and partners. Established in February 2016, the ARIE Capital Group is a fully-licensed investment bank and regulated investment manager, headquartered in Mauritius with offices in London, Beijing, Singapore, Tel Aviv, Los Angeles, and Paris.
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