Japanese lead $10m Series B for Cambridge Touch Technologies
Cambridge Touch Technologies (CTT) – a Cambridge University spin-out creating the next generation of multi-touch screens – is set for rapid global expansion after securing a $10 million Series B funding round.
Led by Japanese specialty chemicals and plastics supplier, Kureha Corporation, the round will go towards developing the UK company's multi-force-and-touch ‘UltraTouch’ technology and rolling it out to its customers.
Other backers include follow-ons from Parkwalk Advisors, Downing Ventures, CM Ventures and Amadeus Capital Partners and there is new investment in the business from top Chinese VC firm Puhua Capital and Japanese automotive touch panel firm, Futaba Corporation.
The money will be used to accelerate product launch and growth into new markets.
CTT is the leading provider of piezoelectric UltraTouch multi-force-and-touch technology to the consumer electronics, automotive, industrial and military markets.
The oversubscribed Series B brings the total amount raised by the firm to date to nearly $20m.
Kureha Corporation of Japan is a leading global supplier of specialty chemicals and plastics including piezoelectric polymer film. The University of Cambridge is also an existing investor, while Ascendant Corporate Finance provided advice on the round.
CTT’s solution combines sophisticated algorithms together with advanced materials – called UltraTouch. It is the world’s simplest all-in-one sensor architecture and is used in any touch-capable smart device, regardless of the device’s size or type.
It solves nagging, lingering problems that users experience with touch screens (e.g. being able to use a touch screen properly whilst out in the rain) as well as bringing entirely new functionality and experiences to consumers (e.g. creating realistic virtual buttons for the modern car’s interior smart surfaces; or using the touch screen of a water-resistant smartphone underwater to capture that unforgettable photo in the pool).
UltraTouch can also be used for the ultra-chic ‘buttonless’ style phones and wearables that are increasingly popular, and for the new foldable phones now coming to the market.
It can even turn the display ON and OFF automatically when the foldable phone is opened or closed - without the need for additional external components that add bulk and cost - saving power and extending battery life.
To meet increasing global demand in the market, the funding will drive the planned expansion of the company’s teams in its Cambridge UK headquarters, as well as its network of Asia sales and support offices in China and Taiwan – and expected soon in Japan – which were opened within the last year.
Corbin Church, CEO and co-founder of Cambridge Touch Technologies said: “We’re delighted to welcome our new corporate and VC investors from Japan and China, as well as having the continued strong support of our existing investors, who together form a world-class group that will help scale CTT quickly to exploit the market opportunity for its technology.
“CTT has grown rapidly over the last several years, and we’re looking forward to being able to continue executing on our growth plan and sharpening our commercialisation focus within the consumer electronics, automotive and industrial markets.
“The partners we have and the injection of new capital means we can expect to enable our customers to begin rolling out the technology at scale in the near future.”