Freeths LLP advise Peratech on £9.2 million investment round
North Yorkshire based Peratech, a world leader in 3D force-sensing technologies, announced it has raised £9.2 million ($12.4 million) from strategic investor Merck Ventures, Arie Capital and Tranquil Capital with the help of Freeths LLP.
Andy Francey, the corporate partner at Freeths in Leeds who led the deal and advised Peratech through previous investment rounds, commented:
“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 (Quantum Tunnelling Composite) technology.”
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.” Giving a nod of thanks to the legal team at Freeths under Francey, Stark added, “To successfully grow the business while fundraising was a critical challenge; I could not have done it without Andy’s competence and diligence whilst completing the round.”
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Based on patented Quantum Tunnelling Composite (QTC®) technology, Peratech’s award-winning, thin and flexible force sensors bring a new dimension to tactile user interfaces, enabling intuitive, consistent experiences in a wide variety of applications and markets. Over a million devices around the world now employ Peratech QTC® technology. Peratech’s custom design and product integration engineering services minimize both cost and time to mass product launch. Peratech Holdco Ltd. is a privately held company based in Richmond, North Yorkshire, UK.
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