© Forciot Business | January 30, 2019
Finnish stretchable electronics company finds new investors
Finnish technology start-up company Forciot has announced that Heraeus Holding GmbH and Volvo Cars’ Technology fund AB have made investments in the company as part of the Forciot’s Series A investment round.
Forciot’s product is a stretchable electronics and algorithm solution that measures and accurately reports force, weight, balance and pressure. The system can for instance be utilised as HMI touch controller. This Investment will allow Forciot to broaden its international business entry and supply chain operations, the company states in a press release. “Stretchable electronics and sensor technology are a future growth market for Heraeus. Our investment in Forciot allows us to open up this market even more and to continue to learn, and it supports our growing electronics and sensor technology areas.”, says Dr. Frank Stietz, head of the Heraeus’ Business Area Electronics, in the release. “At Volvo Cars we see potentials in Forciot’s technologies that can be used for next-generation car interiors. These technologies could be the base for new features that would offer innovative safety and comfort improvements”, says Andreas Strasser, Investment Director at Volvo Cars. In addition to the automotive sector, Forciot also see a place for its technology among logistics and wearable manufacturers that need advanced stretchable sensor solutions. “We are thrilled to have closed the Series A investment round with such great companies. Both, Heraeus and Volvo Cars, have admirable track record in innovation and both are operating in Forciot’s strategic business and learning areas.”, says Tytti Julkunen, Forciot Co-Founder and Chairman of the Board. “This investment enables us to scale up Forciot operations further to prepare for the mass volume phase and supports greatly also our global sales, marketing and technology development growth plans.”, says Maria Alm, Forciot Co-Founder and CEO.
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