Touch Biometrix Announces Market Entry After Securing Series B Investment from Deepbridge Capital
- Touch Biometrix is a pioneer in TFT (thin film transistor) sensor technology development.
- The company is pleased to announce it has secured Series B investment, allowing them market entry.
- By 2025, the global market for biometrics is expected to reach $15 billion.
Within a growing market demand, Touch Biometrix has announced that it has secured Series B investment, which will enable them to enter the market in 2022. Following previous Series A funding of £2 million, this significant Series B investment was through the Deepbridge Technology Growth Enterprise Investment Scheme (EIS) fund.
Adrian Neilan, Investment Director of the Deepbridge Capital Technology Fund, said: “We are delighted to continue our support with Touch Biometrix at what is an exciting time for the biometric industry. We understand there is an increasing need for secure user authentication technology and we believe Touch Biometrix have a unique capability with their production partners to move quickly in this market and make a significant impact. This investment will support the market entry and scaled commercialisation of their first products.”
A New Touch
Based on proprietary patented ‘active pixel’ technology, Touch Biometrix has created a futuristic approach to the realisation of capacitive finger sensors, using TFT arrays that are typically used in the display industry. Touch Biometrix is a fabless developer utilizing a new manufacturing model. This model allows for a low-cost, high-volume production of fingerprint sensors, which can be made to any size on glass, as well as any shape or size using plastic.
The company is planning its first product sample issue of a FAP60 high resolution, slim form factor sensor in the third quarter of 2022.
Mike Cowin, CEO of Touch Biometrix, said: “This new and substantial investment from Deepbridge will enable Touch Biometrix to deliver our first product samples later this year in advance of scaled production in early 2023. Deepbridge is a specialist in investing in growth-focussed tech businesses. In addition to funding, they also have a highly experienced team which provides us with the best possible support, advice and encouragement. They are the ideal partner for Touch Biometrix as we move towards scaled production and market entry.”
A Growing Demand for User Authentication
With a continued drive to increase the implementation of cost-effective, secure user identification for mobile payment services, there is a corresponding tremendously growing demand for user authentication. It is predicted that in the coming years, biometrics will be standard in 90% of mobile devices, generating 1.3 trillion payment, as well as non-payment transactions.
Mike Cowin continued, “We are in a unique position of being able to serve the entire market with small, medium and large area sensors on glass or plastic so targeting homeland security, enterprise but most importantly the consumer electronics industry which is expected to show explosive growth over the coming years. As such we are in the enviable position of being able to offer sensors of any size and form factor whilst offering the lowest cost of ownership price with the adaptability of our sensors to a myriad of new applications that are needed by the market.”