Flatfrog, a Lund-based multi-touch systems provider, has closed a €6.1 million funding round. Among the investors are Luxembourg-based Finvus Invest and the Danish venture capital firm Sunstone Capital, according to DI Digital.
Flatfrog has developed a technology that enables unmatched in-glass multi-touch performance for large and flat displays. The so-called “InGlass” technology offers market-leading touch or pen performance, optical clarity and contains features such as pressure detection.
The company successfully closed another financing round with existing investors earlier this spring, bringing in €4.3 million (42 million SEK). In order to finance the continued development of its multi-touch technology, Flatfrog recently closed a new capital issue of €6.1 million (60 million SEK), giving the company a value of roughly €21 million (208 million SEK).
Among the recent investors are Finvus Capital, Sunstone Capital and founder Christer Fåhraeus through his own company Fårö Capital.
Flatfrog’s current sales strategy is primarily geared towards the educational sector, with the long-term intention to replace classroom whiteboards and projectors with its touch-sensitive large screens.
“It is our existing market and the market in which we grow,” says Christer Fåhraeus to DI Digital
In the future however, Fåhraeus hopes that Flatfrog will be able to reach the boardrooms and meeting rooms, hence replacing traditional televisions and projectors.
Flatfrog was founded by Ola Wasswik and Fåhraues, and is headquartered in Lund. Since its inception, the company has received nearly half a billion SEK in venture capital.
Serial entrepreneur Fåhraues has previously been involved in a number of tech companies, including CellaVision, Anoto and Precise Biometrics.