Touch Biometrix, an investee company within the Deepbridge Technology Growth EIS portfolio, has announced a successful Series B funding round, with plans to launch a FAP60 fingerprint biometric sensor as the first prodct utilising its thin transistor film (TFT) technology with 'active pixels'.
The latest funding round was led by the Deepbridge Technology Growth EIS fund, which follows a £2 million Series A funding round in 2019, and more recently a partnership on go-to-market strategy with SystematIC.
Adrian Neilan, COO & Investment Director, Technology, at Deepbridge Capital commented:
“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.”
Despite market pressures from the COVID-19 pandemic, in late-2021 MarketsandMarkets forecast the global market for fingerprint biometric sensors to grow at a Compound Annual Growth Rate (CAGR) of 10.9% from 2021 to 2016, to reach $5.8 billion by 2026.*
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