31st May 2018 – Cambridge UK – Cambridge Touch Technologies Limited (“CTT”, “The Company”) – a leading developer of AI-driven, 3D multi-touch sensing technologies for smart devices – is pleased to announce the completion of a $5.5m Series A1 round of investment. Existing investors – Parkwalk Advisors, Cambridge Enterprise and Amadeus Capital Partners – participated in the round, and were joined by new investors China Materialia of Shanghai and Downing Ventures of London. Ascendant Corporate Finance provided advice to CTT on the fund raising.
The Company’s technology uses the world’s simplest architecture to deliver an all-screen, multi-finger 3D touch solution that can scale to all device sizes at a fraction of the cost of existing approaches. CTT technology sits above or on the display due to its high transparency, not underneath as with current opaque approaches. It is fully compatible with OLED and LCD conventional or bezel-less ‘infinity’ screens, including flat, curved and newly emerging foldable and flexible devices.
Due to sophisticated software algorithms and artificial intelligence, CTT’s next-generation solution is the world’s simplest 3D Touch architecture, employing just a single, piezoelectric based sensor for combined force and capacitive location sensing. First-generation competitor solutions require separate sensors, and are more complex to manufacture.
CTT was spun out of the University of Cambridge in 2011 to commercialise next-generation 3D multi-touch technology for smart devices such as smartphones, tablets, automotive and industrial applications. 3D Touch is an enhanced user interface which is now being deployed by all leading mobile and smart device makers.
CTT has attracted strong market interest, and is engaged with leading OEMs, touch and display panel manufacturers, touch controller IC makers and auto component suppliers for mass adoption of its technology in the near future.
Corbin Church, CEO at CTT, said: “We’re delighted to welcome China Materialia and Downing Ventures, both highly-respected funds, who join our existing investors in backing the rapid growth of the business. 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 commercialization plans and roll-out. The company has a number of opportunities to exploit with its technology, IP and first-class team, and this new funding will allow us to accelerate business, product and market development over the next 18 months. We look forward to continuing to work with our customers and partners towards mass production, which is expected in the near future.”
Moray Wright, co-founder of Parkwalk, said: “We are delighted to have led this funding round. CTT’s disruptive technology and processing solutions could revolutionise the touch screen market. We welcome China Materialia and Downing as new investors and look forward to taking this technology forward to commercialisation.”
Amelia Armour, Principal, Amadeus Capital Partners, commented: “CTT is another great Cambridge university spin-out we are pleased to be backing. As we expected when investing at seed stage, the market for 3D touch screens has grown rapidly. CTT is now perfectly positioned to commercialise its unique touch technology.”
Dr. Patrick Berbon, Managing Partner of China Materialia, said: “We are excited to invest in CTT and join its Board of Directors. We are attracted by the simplicity and elegance of CTT’s solution for 3D Touch sensors in smart devices. We feel that CTT’s AI-based signal processing algorithms and specialized Piezoelectric Force Films, could enable a simple low-cost sensor architecture that delivers superior functionality, and scales to all device sizes, shapes and, flexible and foldable forms, and open up exciting new applications on these devices. We look forward to supporting the company’s growth.”
Richard Lewis, Investment Director at Downing Ventures, said: “We are delighted to be working with CTT and supporting the commercialization of their truly innovative 3D Touch platform. The high quality CTT team has developed a low-cost architecture that has the potential to disrupt the global touch screen market. We also look forward to working with an experienced group of investors to help the company to achieve its growth ambitions.”
About Cambridge Touch Technologies
Cambridge Touch Technologies (CTT) was spun out from the University of Cambridge, the world-leading engineering and research centre. It has a growing IP portfolio covering all aspects of 3D Multi-Touch technologies, from system architectures to advanced signal processing and low power operation.
CTT supports its OEM and supply chain customers with IP, know-how, analogue and digital technologies, and advanced system architectures.
Read more at: www.camtouch3d.com
Parkwalk invests in high growth, knowledge intensive companies seeking to develop and commercialise technology and innovation originating from UK universities, research intensive institutions and technology clusters. Founded in 2009, Parkwalk is the largest EIS growth fund manager focused on university spin-outs, having raised over £180m to date and backed over 80 companies across its managed funds since inception.
www.parkwalkadvisors.com or @ParkwalkAdvisor
About China Materialia Venture Capital
Founded in 2010 in Shanghai, China Materialia Venture Capital is focused on investing in promising start-ups with proprietary technologies in New Materials, Advanced Manufacturing and Digital Industrial. China Materialia Venture Capital Fund is backed by prominent multinational companies in materials and manufacturing, that include GE, Samsung, BASF, SABIC, BAT and Henkel. China Materialia and its corporate backers help its portfolio companies to form strategic partnerships and to grow in the China market.
About Downing Ventures
Downing Ventures—a division of Downing LLP—is an evergreen fund that in invests in Seed to Series A startups. Downing Ventures supports a variety of technology sectors, including enterprise and consumer software, deep tech, and life sciences. The fund has a portfolio of over 40 growing companies, and works alongside a number of investment partners and accelerator programmes and incubators, including the London Co-Investment Fund.
About Cambridge Enterprise
A wholly owned subsidiary of the University of Cambridge, Cambridge Enterprise Limited is responsible for the commercialisation of University intellectual property. It provides access to early stage capital through the Cambridge Enterprise Seed Funds, University of Cambridge Enterprise Funds and Cambridge Enterprise Venture Partners, and offers business planning, mentoring and related programmes. Activities include management and licensing of intellectual property and patents, proof of concept funding and support for University staff and research groups wishing to provide expert advice or facilities to public and private sector organisations. For more information, please visit: www.enterprise.cam.ac.uk
About Amadeus Capital Partners
Amadeus Capital Partners is a global technology investor. Since 1997, the firm has backed more than 130 companies and raised over $1bn for investment. With vast experience and a great network, Amadeus Capital’s team of investors and entrepreneurs share a passion for the transformative power of technology. We invest in consumer services, financial technology, artificial intelligence, cyber security, medical technology, digital health and digital media.
Early stage investments we’ve made include genomic research data collaboration platform Repositive, massively parallel simulation platform Improbable.io, Graphcore, innovators in intelligent microprocessors, and speech recognition company VocalIQ. To learn more visit https://amadeuscapital.com or follow us at @AmadeusCapital.