WaveTouch Group announces first close of £5m capital raise

London-based WaveTouch Group finalised the capital raise of £5m by May 2017,
which has been offered on an exclusive basis to clients of West Hill Capital. The
capital increase enables WaveTouch to complete the development of a
demonstration unit, and ensures the funding for product marketing, and further
refinement of the technology to bringing WaveTouch into commercial products on the market.

Jorgen Korsgaard Jensen, founder and group CEO said: “We are very proud to have been able to attract a strong range of investors to ensure the commercialization of our technology. I am confident this enables us to bring WaveTouch solutions to the market within the foreseeable future”.

WaveTouch Group aims to supply its modules to equipment and device manufacturers worldwide. It is intended that the touch modules will be customised to client specification and manufactured in O-Net’s facility in Shenzhen on the basis of a proposed production agreement. In 2015, the estimated value of the global touch panel market was US$ 30 billion with almost 2 billion units shipped.

About WaveTouch Group

WaveTouch Group is a technology company that has developed an innovative optical touch technology for application in touch screen modules in high-volume industrial and consumer electronics applications such as personal navigation devices (PNDs), automotive displays, cash machines (ATMs), point-of-sale (POS) terminals, digital cameras, smartphones and tablets.

WaveTouch Group’s technology provides a cost-competitive optical touch solution that can help many OEMs to reduce their products’ cost base and pave the way for attractive new features, applications, designs and uses in industrial and consumer electronics products. Furthermore, the WaveTouchTM technology is considered to offer greater functionality and performance in comparison to the market-leading resistive and projected-capacitive touch technologies.