Downing Ventures has joined forces with corporate and VC investors from the UK and Asia to participate in a $10 million Series B funding round for Cambridge Touch Technologies Limited (CTT). Downing Ventures is the largest European investor in the round, which was led by Kureha Corporation of Japan. Also participating in the raise were new investors Puhua Capital, a Chinese VC firm, and Japanese strategic corporate investor, Futaba Corporation. Existing investors Parkwalk, China Materialia Ventures, and Amadeus Capital provided additional financial support for the business.
Spun out of the University of Cambridge in 2011, CTT is a high-tech company at the leading edge of touch technology. Its pressure-sensitive multi-touch technology is simpler to integrate and significantly cheaper but more sophisticated than what is currently used in high-end smart devices.
CTT has developed UltraTouch, a next-generation, multi-force-and-touch solution that combines sophisticated algorithms together with advanced materials. It is the world’s simplest all-in-one sensor architecture and can be used in any touch-capable smart device, regardless of the device’s size or type.
Ultratouch solves nagging lingering problems that users experience with touch screens (e.g. being able to use a touch screen properly while out in the rain) as well as bringing entirely new functionality and experiences to consumers. This includes creating realistic virtual buttons for a car’s interior smart surfaces; or using the touch screen of a water-resistant smartphone underwater. UltraTouch can also be used for buttonless mobile phones and new foldable phones that are being developed.
Richard Lewis, Investment Director at Downing Ventures, comments:
“Annual global touch panel shipments are forecast to grow to over 2 billion by 2020, of which 30-40% will comprise enhanced touch displays, so there is a large, addressable market for CTT to target. We initially invested in CTT in 2018 and are pleased that we can continue to support the business following the progress of the UltraTouch technology.
The CTT team has developed a low-cost solution that has the potential to disrupt the global touch screen market and we are delighted to support the company in achieving its growth ambitions.”
The funding will drive the expansion of CTT’s teams in its UK HQ in Cambridge, as well as its network of Asia sales and support offices in China, Taiwan and Japan.
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