£9.2m investment round for North Yorkshire firm
North Yorkshire based Peratech, a world leader in 3D force-sensing technologies, has raised £9.2m from strategic investor Merck Ventures, Arie Capital and Tranquil Capital.
The Richmond firm has a patented Quantum Tunnelling Composite (QTC) technology which is used on more than a million devices around the world. QTC sensors enable safer, more intuitive human-machine interfaces (HMI), while reducing accidental or false touches.
The technology has the potential to disrupt the way we use touch sensing in the mobile, automotive, industrial, and medical device markets. The new investment means that Peratech can now develop and commercialise QTC technology in addition to scaling up product engineering and manufacturing as leading original equipment manufacturers start to deploy innovative HMIs utilising force and 3D touch.
Jon Stark, Peratech CEO said, “The quality of investors to the round is testament to the technology’s potential, our business model, and most importantly our talented global team.”
The deal was completed with Freeths LLP in Leeds. Andy Francey, the corporate partner who led the deal and advised Peratech through previous investment rounds, added: “The successful fundraising round is testament to the hard work and vision of the Peratech team. The level of investment, which exceeded the initial target, is a clear signal of confidence in the company’s proprietary QTC technology.”
