Finance Yorkshire backed tech company attracts multi-million pound investment
Richmond-based Peratech Holdco Limited has raised £9.2m to scale and commercialise force-sensing solutions with its proprietary Quantum Tunnelling Composite (QTC®) technology.
Peratech QTC-based sensors offer intuitive touch sensing for next generation user interfaces in a range of mobile, automotive, industrial and virtual/augmented reality products..
The new investment of £9.2m has been made by Merck Ventures, Arie Capital and existing investors. It will enable Peratech to commercialise its QTC technology by scaling up customer support and manufacturing.
Finance Yorkshire invested £1.4m in Peratech from its Equity Linked Fund to finance an asset purchase and development of QTC technology in North Yorkshire with Northern Powerhouse talent so that it could reach its current commercialisation stage.
Peratech CEO Jon Stark said, “Finance Yorkshire’s early-stage investment enabled us to complete our technology development, demonstrate it in several product applications, exciting global customers, receive multiple industry awards, and attract strategic manufacturing partners.”
Alex McWhirter, chief executive of Finance Yorkshire, said: “Finance Yorkshire’s investment in Peratech proved pivotal in enabling the business to develop its QTC technology over a period of time and reach a stage where the technology is now ready for commercial use.
“Our support of Peratech underlines the value Finance Yorkshire brings to innovative companies, providing much needed financial support, guidance and expertise as they develop technologies in the early growth stages of their business.”
Note: this news article is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire