Touch Biometrix secures investment from Deepbridge Capital
Touch Biometrix, a UK company aiming to change the way we interact with technology for user
authentication are pleased to announce they have received seed investment from Deepbridge
Touch Biometrix are a fabless developer of a new class of fingerprint sensor for application to
consumer electronics such as smartphones, laptops and computer peripherals. Based on
proprietary sensor designs and algorithms the Touch Biometrix platform will enable fingerprint
sensors of any shape or size. This enables a user authentication platform that can easily be
integrated into a wide range of consumer electronics and smart objects for a more intuitive and
secure user experience that promises to eliminate the need for passwords.
Touch Biometrix are adopting proprietary production techniques that is expected to disrupt the
cost of ownership by targeting a sensor price of $1 per sensor by the end of 2019, so opening
up the market for integration of a low-cost, highly secure biometric authentication platform
into low, mid and high tier consumer electronic brands.
Touch Biometrix CEO, Mike Cowin, said:
“This seed funding round will enable Touch Biometrix to establish a minimum viable product,
in collaboration with our supply chain partners. We are delighted to be supported by
Deepbridge Capital who have a tremendous reputation for working with and supporting hightech
Ian Warwick, Managing Partner at Deepbridge Capital, commented:
“We are delighted to be working in partnership 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 has the capability to move quickly
in this market, with this funding we have provided utilising the Seed Enterprise Investment
Scheme being the initial catalyst. We look forward to working with the Touch Biometrix team
as the company grows.”
The market demand for fingerprint sensors is expected to exceed 1.5B units per year by 2020 with the global market for biometrics to reach $15B by 2025.
The drive for user authentication is experiencing tremendous growth as the drive to open up seamless user identification for the use of mobile payment services continues. Indeed, it is expected that biometrics will be standard in 90% of mobile devices by 2022 generating 1.37 trillion payment and non-payment mobile device transactions.
About Touch Biometrix Ltd
Touch Biometrix was founded in 2017 with the aim of becoming one of the top 5 fingerprint sensor suppliers by 2023. Touch Biometrix are developers of a new class of fingerprint sensor for the consumer electronics industry. Based on proprietary technology and sensing algorithms Touch Biometrix are developing a range of fingerprint sensors of any shape or size that offer ease of product integration for a more convenient user experience on a wider range of products. Manufactured on plastic or flexible glass Touch Biometrix sensors will offer a new standard in ease of use and security. Utilising a new manufacturing model Touch Biometrix fingerprint sensors are set to disrupt the market with a target cost of $1 enabling the widescale adoption into high, mid and low tier consumer electronic products.