In a significant financial move, touch sensor technology firm Peratech has secured a $31.5 million (£23.7 million) investment to advance its quantum tunnelling composite (QTC) force sensing system. The second major funding round was spearheaded by investor Dark Matter Partners and included $6.5 million (£4.8 million) in oversubscribed equity from both new and existing investors.
Peratech, with operations in North Yorkshire, County Durham, as well as in China and Sweden, is renowned for its pioneering touch sensor technology. This technology has been integrated into a diverse range of products, from cordless drills to NASA robots. The recent funding represents a substantial endorsement of the company’s innovations, particularly those utilised in PCs and laptops.
The newly acquired capital will be channelled towards the development of Peratech’s QTC force sensing system, which boasts capabilities in detecting applied force. Additionally, the funding will support advancements in the company’s Hydra user interface software and its haptic feedback systems, which provide vibration responses to user inputs on devices.
Peratech has established collaborations with key leaders in the electronics industry, with its technology implemented in keyboards, trackpads, and gaming controllers. The company also supplies user-friendly interfaces for the automotive sector, designed to minimise driver distractions and enhance cabin usability.
In a notable historical move, the company raised $12.4 million (£9.2 million) in 2017 from Dutch venture capitalists Merck Ventures and Arie Capital, along with prior investors. In 2021, Peratech relocated its global research and development facility from Richmond to NETPark in County Durham, leveraging the advanced laboratory facilities available there.
Commenting on the recent financial boost, CEO Jon Stark stated, ‘Our force sensing and haptic feedback technologies not only make industry-leading haptic trackpads and force-enabled keyboards, but our control firmware and software do something that no other user interface product can: it makes the user interfaces intelligent. We use that intelligence to make PCs fundamentally easier, more engaging and more fun to use for every user type—from novices to professional content creators and gamers.’
Scott Bell, joint managing partner at Dark Matter Partners, echoed this sentiment, asserting, ‘Peratech has built a unique platform technology, with extremely strong IP foundations. They have proven commercial traction globally in large addressable markets. We believe in the management team and are excited to support their ambitions to scale up. We are also pleased to pioneer the ability of IP to act as the principal collateral in financing the technology leaders of the future.’
This significant financial injection underscores the industry’s confidence in Peratech’s innovative capabilities. As the company continues to enhance its technology and expand its market presence, the support from investors signals robust growth prospects in the near future.