Swedish Touch Screen Pioneer FlatFrog Closes €20 Million Funding Round Led by Intel Capital
LUND, Sweden, June 20, 2012 /PRNewswire/ --
FlatFrog Laboratories AB, a Swedish developer of disruptive touch screen technologies, announced today that it has closed a €20 million funding round led by Intel Capital, with the strong backing by Invus. Intel Capital joins the existing investors Invus and Sunstone Capital. FlatFrog intends to use the funds to expand its world-class team during 2012 in order to accelerate the development and commercialization of its multi-touch technologies for consumer electronics products in the personal computing ecosystem.
"Since we began developing our unique multi-touch technology more than five years ago, our goal has been to bring supreme multi-touch technologies to the mass market by providing flawless user experiences at affordable prices", states Christer Fåhraeus, CEO/Chairman and Founder at FlatFrog. "At the right price-points and with the right technology, we believe every screen in the world will be touch-enabled. This new investment round, and the collaboration opportunities created by teaming with Intel Capital, will allow us to run even faster to reach our goal."
By using sophisticated algorithms to track light travelling inside the cover glass of a screen, FlatFrog's Planar Scatter Detection technology provides instant and perfect detection of up to hundreds of simultaneous touches and drags. FlatFrog's PSD technology is based on optics instead of the traditional capacitive electronic fields used in the vast majority of today's high-end touch-enabled mobile devices. As a result, touch screens based on PSD detect not only input from bare fingers, but also from gloved fingers, passive styli and many other common objects such as pencil erasers.
"Creating a perfect touch experience at very low price-points, in a way that is easy to manufacture and that can scale from small to very large sizes, is extremely complicated", adds Christer Fåhraeus. "We literally have had best-in-class scientists working for years on our algorithms, opto-electronics and opto-mechanics. This new financing round will take us to a new level. We're very excited to have Intel Capital join the FlatFrog investor base."
Flatfrog was founded in 2007 by serial entrepreneurs Ola Wassvik and Christer Fåhraeus. The company holds more than 60 patent families in optical wave-guide touch technology. Recently, FlatFrog began shipping the first product based on its technology, the 32" FlatFrog Multitouch 3200, the slimmest high-performance 32" multi-touch screen in the market.
FlatFrog Laboratories AB is based in Lund, in the technologically expansive Öresund region. It was co-founded in 2007 by optics expert Ola Wassvik and inventor Christer Fåhraeus, serial entrepreneur and now chairman of the Board. FlatFrog develops advanced opto-electronic hardware, revolutionizing the touch industry with its patented optical in-glass PSD technology providing true multi-touch systems that allow a superior user experience at low cost. FlatFrog offers a uniquely smooth and precise touch control with 40 simultaneous touch points in screen formats ranging from 5" to 100"+. The slim form factor favours easy mounting in any environment. Flatfrogs technology is covered by more than 60 patent families. Applications, developed by a multitude of VAR partners, include multi-touch table-tops, digital signage, interactive whiteboards, point-of-sale, gaming and medical displays, and also consumer electronics such as tablets, Ultrabooks and All-In-One computers. FlatFrog investors include Invus, Promethean, Sunstone Capital and Fårö Capital. (http://www.flatfrog.com)
Invus is Invus is an international long-term equity investor with offices in New York, Paris, London and Hong Kong. With more than $4 bn of capital under management, Invus invests in a variety of equity transactions, including buyouts, long-term public equity investments, venture capital and expansion financings. Invus manages interests in a broad range of industries, including consumer goods and services, education, software, biotechnology, medical devices and renewable energies. The Invus team draws on its broad experience in partnering with management teams and boards to help formulate and execute strategies that maximize long-term value. (http://www.invus.com)
Sunstone Capital is a Copenhagen based early-stage venture capital investor. With approximately €700 million in funds under management, Sunstone Capital focuses on developing and expanding early-stage technology and life science companies with strong potential to achieve global success in their markets. (http://www.sunstonecapital.com)
For further information, visit http://www.flatfrog.com or contact:
Name Christer Fåhraeus
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