Touch Biometrix, pioneers in the development of thin film transistor (TFT) based capacitive fingerprint sensors are pleased to announce it has secured Series B investment from Deepbridge Capital enabling them to enter the market in 2022. This significant investment comes through the Deepbridge Technology Growth Enterprise Investment Scheme (EIS) fund which follows previous Series A funding of £2million.
Touch Biometrix have developed a new approach to the realisation of capacitive fingerprint sensors based on proprietary patented ‘active pixel’ technology using TFT arrays ordinarily used in the display industry. The company are a fabless developer using a new manufacturing model allowing the high volume and low cost production of fingerprint sensors which can be any size on glass and any size or shape on plastic. Touch Biometrix are planning their first product sample issue of a FAP60 high resolution, slim form factor sensor in Q3 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 on 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 provide 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.”
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.”
The market demand for fingerprint sensors is expected to exceed 1.5 billion units per year by 2023i with the global market for biometrics to reach $15 billion by 2025ii.
The demand for user authentication is experiencing tremendous growth as the drive to increase the adoption of highly secure and cost-effective user identification for the use of mobile payment services continues. It is expected that biometrics will be standard in 90% of mobile devices in the coming years, generating 1.37 trillion payment and non-payment mobile device transactions.iii
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 today.”
About Touch Biometrix Ltd
Touch Biometrix are the leader in the development of a new class of fingerprint sensor based on “active” capacitive thin film transistor sensing arrays for the biometrics industry. Based on proprietary technology and drive electronics Touch Biometrix have developed a range of patented fingerprint sensors that can be any size on glass and any size or shape on plastic. This new range of sensors offer a fingerprint platform that can address the entire market for small, medium and large area sensors for the first time. Using a new manufacturing model for fingerprint sensors the TCAP® range of sensors, manufactured on thin film transistor production lines, offer a highly scalable supply of sensors that are superior in performance, form factor and power consumption whilst also offering the lowest cost of ownership on the market.
About Deepbridge Capital LLP
With over £120million of funds under management, Deepbridge Capital provides funding to growth- focussed UK technology, life sciences and renewable energy companies utilising Government initiatives such as the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS). The company has offices in Chester, London, Edinburgh, Bristol, Australia and the USA.
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i Statista Fingerprint sensor unit shipments worldwide from 2014 to 2020 (in millions) https://www.statista.com/statistics/536692/global- fingerprint-sensor-unit-shipments/
ii Tractica: Global Unit Shipments and Revenue by Biometric Modality, Technology, Use Case, Industry Segment, and World Region: 2016- 2025 https://www.tractica.com/research/biometrics-market-forecasts/
iii The Global Biometrics and Mobility Report Sep 2017 Acuity Market Intelligence (www.acuity-mi.com/GBMR_report.php)