HMI startup closes Series A financing

June 21, 2021 // By Jean-Pierre Joosting
HMI startup closes Series A financing
TouchNetix AS to significantly accelerate business growth after a successful Series A financing round following the merger of TouchNetix Ltd with MyWo AS.

TouchNetix AS, a provider of next generation human machine interface (HMI) chips and sensor modules, as announced the closure of a 95M NOK ($11.5M) Series A financing round. This round was managed by Sparebank1 Markets with Alliance Venture, Firda, Investinor, Investitude, and Salvesen & Thams as institutional investors along with a small group of private investors. Funds will be used to expand the already successful TouchNetix business to address the rapidly growing touchless and touch HMI markets. 

TouchNetix AS was formed in March 2021 by the merger of MyWo AS of Trondheim, Norway and TouchNetix Limited of Fareham, UK – companies which have worked together with a common strategy to develop next-generation touchscreen chips since 2016. The merger of the companies to form TouchNetix AS with TouchNetix Limited as a UK subsidiary, will allow the company to develop its workforce from around 40 employees across six countries to become a fully global organisation.

The demand for touchless UI’s and for fully featured touchscreen technology as application space has expanded beyond consumer electronics has accelerated significantly during 2020. The merged company becomes a fully capable semiconductor and systems house with design, manufacturing and deployment capabilities which surpass those of much larger companies in the application space.

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