Ascendant Corporate Finance(“Ascendant”), the technology-focused corporate finance boutique, is pleased to announce that its client Cambridge Touch Technologies Limited (“CTT”, the “Company”) – a leading developer of AI-driven, 3D multi-touch sensing technologies for smart devices – has completed 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 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. Ascendant, and Stuart McKnight in particular, helped us throughout the fund raising exercise – from the very start right through to completion. We hope to work with them again.”
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.”
Stuart McKnight, Managing Director of Ascendant, said “We are delighted to have managed this funding round on behalf of CTT. The Company’s disruptive technology and processing solutions could revolutionise the touch screen market. Its success at attracting international investors like China Materialia as new investors are a great testament to the scale of the opportunity and the quality of the management team.”
Ascendant Corporate Finance specialises in advisory services for growing technology and life science businesses. With a wealth of experienced staff, Ascendant provides a wide range of services including advice on fund raising, mergers, acquisitions, disposals, exit planning and MBOs. For further details, see www.ascendant.co.uk or contact:
Stuart McKnight – Managing Director +44 (0)20 7993 8700 or via firstname.lastname@example.org
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