Peratech Holdco Ltd., a Yorkshire-based firm leading the field in new touch-technologies, has completed a £1million investment round which will see staff numbers grow in sales and engineering.
Peratech is a pioneer of its patented Quantum Tunnelling Composite® (QTC®) technology, which has the unique ability to measure small changes in force with a predictable change in conductivity, enabling companies to create the next generation in smart, pressure-based user experiences.
The latest investment was funded by existing shareholders, including Finance Yorkshire, in a move which Peratech believes is a vote of confidence in the firm’s business model.
Jon Stark, CEO of Peratech, said, “We work closely with our customers around the world to offer complete solutions, from research to design and manufacturing. This latest investment from our stakeholders is a vote of confidence that we have a solid business model, and the processes in place to accelerate the commercialisation of our product.” Stark continued, “The funding will enable us to meet a steadily growing demand for Peratech’s QTC® technologies across a wide variety of global markets.”
National law firm Watson Burton, which has an office in Leeds, helped Peratech to secure the funding within just two weeks.
Stark highlighted, “Watson Burton acted like an extension of our team, project managing the funding round so that our leadership team was able to remain focussed on delivering for our customers.”
Andrew Francey, partner at Watson Burton, said, “We have worked with Peratech on a number of projects, and were delighted to help secure this funding which will help Peratech achieve its strategic goals. I’m sure they’ll continue to enjoy further success in the global market.”