Foxconn invests in SigmaSense
Touch screen technology company, SigmaSense, has closed a USD 22 million Series A funding round led by Foxconn Technology Group.
Other participants in the funding round include Corning, E Ink, GIS and MRI (managing partner of LG-MRI). Former Dell CFO Tom Meredith also participated in the round, a press release reads. SigmaSense says it intends to leverage these strategic and investor relationships to make its touch solutions the preeminent standard in the high-growth USD 4.7 billion touch controller market – which is part of the much larger USD 100+ billion global display market that spans from mobile phones and laptops to large interactive digital signage and whiteboards. This financing will speed the development of SigmaSense’s semiconductor and software solutions. Amidst a broader set of future applications, SigmaSense says its technology will show up everywhere – from in-person touchless order kiosks for the hospitality industry to home entertainment – including reimagined interactive at-home learning and work spaces. The COVID-19 pandemic has created a strong market demand for touchless technology to mitigate human contact and safeguard health. Other opportunities include sensing in automobiles, consumer devices, medical products and industrial applications. “This financing, and the powerful syndicate behind it, provide a strong endorsement of SigmaSense’s technology breakthrough and the impact across market opportunities,” says Rick Seger, SigmaSense’s CEO, in a press release. “Our team has spent years developing new touch experiences that outpace the market and will shift expectations across multiple multi-billion-dollar markets. From foldable phones to large-screen game tables, our new technology provides far better experiences.” The company’s SigmaHover’s touchless multi-layer interaction uses high hover and multidimensional sensing above the screen to provide just that – a touchless way of interacting with the screen.