Peratech gets £1.1m investment
Peratech has scooped £1.1 million of investment to expand its touch technology, following agreements with Samsung and Nissha printing.
The £1.1 million (€1.3 million) was pumped into the company by YFM Group managed Partnership Investment Finance. The move comes hot on the heels of agreements, reported by InAVate last week, that will see the touch technology hit the mobile display market.
YFM’s investment will be used for further research and development into Peratech’s Quantum Tunnelling Composite (QTC) technology for touch technology solutions, as well as growing the company’s sales into overseas markets.
“We are really excited by the huge potential of Peratech and its technology,” says Mark Winderbank at YFM Group, which is the most active VC investor in UK SMEs. “Peratech’s recently announced license deals with major international companies Nissha and Samsung Electro-mechanics demonstrate how QTC can open up exciting new ways of doing things. We are proud to be able to support a fast growing British company with a truly unique technology that has a tremendous world market. Of all the possible investments that we have looked at recently, Peratech stood out because of the strength of its innovative technology and huge growth potential.”
“In these financially challenging times, it is a real testament to both the QTC technology and the team behind it to have received funding of this level,” adds Philip Taysom, joint CEO of Peratech. “The Company has invested significant R&D efforts to understand this new class of material science that it has invented. We are now at the stage where its ability to add value and completely new innovative features, which provide significant commercial advantages, are clearly demonstrable as can be seen from the licensing deals that we are closing with Tier 1 international companies.”