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Somalytics Closes Seed Funding Round, Attracts Additional Investors
Tech innovator Somalytics Inc. today announced it has received seed funding of $1.9 million to launch mass production of its award-winning new sensor. Made of a paper composite, it is the world’s smallest nano-based capacitive sensor. The funding was led by hard science investment firm IP Group Inc. with support from WRF Capital. IP Group provided the initial investment for Somalytics that helped launch the company last year out of CoMotion, University of Washington’s collaborative innovation hub.
“We deeply appreciate the continuing confidence and support from IP Group and are thrilled to welcome WRF Capital to our investor team,” said Barbara Barclay, CEO of Somalytics. “We have made such incredible progress since our launch in November. This support will expedite our move to mass manufacturing as well as our continuing research and development efforts and team growth. We look forward to seeing what incredible new products will be created using our sensors for a wide variety of markets.”
Somalytics’ patent-pending carbon-nanotube paper composite (CPC™) capacitive sensors establish a new sensor category and “feel” human presence at greater distances, revolutionizing human-machine interfaces and creating opportunities for developers to build new user experiences and strengthen industrial automation. Somalytics’ new eye, gesture, touch and fluid monitoring sensor technology is expected to transform categories such as eye tracking, consumer electronics, wellness monitoring, safety applications, the Internet of Things, health and wellness, and transportation.
“We are excited to support Somalytics and its development of unique nano-based capacitive sensors,” said Loretta Little, managing director at WRF Capital. “The advantages of lower cost manufacturability, low power consumption and increased sensitivity expand their value across industries and applications.”
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