Touch Biometrix are pleased to announce that they have opened their R&D offices at the world-famous High Tech Campus in Eindhoven.
Online PR News – 21-July-2019 – St Asaph – Touch Biometrix, the disruptive fingerprint technology company are pleased to announce that they have opened their R&D offices at the world-famous High Tech Campus in Eindhoven.
Touch Biometrix recently received Series A funding of £2M through the Deepbridge Technology Growth Enterprise Investment Scheme (EIS) fund which followed initial seed funding of £150,000 last year.
Touch Biometrix is developing a new class of fingerprint sensor for application to consumer electronics such as smartphones, laptops and computer peripherals. Based on its proprietary sensor designs and algorithms the Touch Biometrix platform will enable conformable fingerprint sensors of any shape or size that can easily be integrated into a wide range of consumer electronic devices and smart objects. The user authentication experience will be seamless and more importantly will offer unbreakable security - eliminating the need for passwords and pin codes.
The technology under development is expected to disrupt the cost of ownership by targeting a sensor price of less than $1 per sensor by the end of 2020, so opening the market for integration of a low-cost, highly secure biometric authentication platform into a myriad of products across the consumer electronics industry.
CTO Eric Derckx said, "this is the perfect fit for Touch Biometrix. Being based at such a well-equipped centre of excellence offers access to a myriad of technical expertise and capabilities. This will allow us to fast track the development of our fingerprint sensing platform so allowing a faster route to market".
Last year, Touch Biometrix was recognised in a global report as one of the top 20 fingerprint tech businesses alongside the likes of Apple, Synaptics and Goodix.
CEO Mike Cowin added, "we're so excited to have our R&D offices at the High Tech Campus in Eindhoven. The range of expertise on-site is breath-taking and the working environment is one that I have only ever before experienced in Cupertino, Silicon Valley. This is Europe's equivalent and its impressive.
Our relationship with the High Tech Campus will enable Touch Biometrix to build upon its development work with the aim of defining its first minimum viable product by the end of 2019 ahead of scaled product in early 2020".
The market demand for fingerprint sensors is expected to exceed 1.5 billion units per year by 2020 with the global market for biometrics to reach $15 billion by 2025 .
The demand for user authentication is experiencing tremendous growth as the drive to increase the adoption of highly secure and cost-effective user identification for the use of mobile payment services continues. 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.
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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 is a developer of a new class of fingerprint sensor for the consumer electronics industry. Based on proprietary technology and sensing algorithms Touch Biometrix is 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 ergonomic sensor integration and most importantly, unbeatable security in use. Utilising a new manufacturing model Touch Biometrix fingerprint sensors are aiming to disrupt the market with a target cost of below $1 per sensor enabling the widescale adoption into high, mid and low tier consumer electronic products.