Company to Utilize Funds to Further Develop Multi-Touch Technology Following Investment Procurement
Kfar Saba, Israel and Austin, TX – January 12th, 2009 — N-trig, providers of DuoSense® technology, combining pen and capacitive touch in a single device, announced today that they have completed a fund-raising round of $24 million from investors, including Aurum Ventures, Challenger Ltd., Canaan Partners, Evergreen Venture Partners and Microsoft Corp.
With this new round of funding, N-trig plans to continue working with leading OEMs to create multi-touch notebooks and convertible computers for the mainstream marketplace. The company’s multi-touch technology will enable OEMs and ISVs to build new interface standards for both enterprise and consumer markets.
“With the introduction of multi-touch in Windows 7, integrated with N-trig’s DuoSense technology, our customers will have a new and natural way to interact with their PCs,” said Ian LeGrow, Group Program Manager for Windows Client at Microsoft Corp. “By simulating the way people write and touch naturally, N-trig is helping to make it easier to navigate your PC and enable a new class of Windows experiences.”
N-trig’s touch technology is currently deployed in Dell’s Latitude XT, and was recently launched on HP’s TouchSmart tx2. The company also plans to announce more OEM design wins in the coming year, representing industry standardization of the N-trig hardware in the marketplace and further breaking down the barriers between the user and their computer.
“We would like to extend our thanks to all our investors for their support,” said Amichai Ben-David, CEO of N-trig. “We will use this funding to keep fueling technology innovations in Hands-on computing, providing leading OEM brands with new product platforms and supporting ISVs to develop new applications. Additionally, we intend to expand our global supply chain by developing breakthrough mobile platforms in order to create and penetrate new markets.”
N-trig’s DuoSense takes established technology to new levels, enabling a more intuitive and natural personal computing experience. Using zero-pressure capacitive touch, DuoSense technology offers cutting edge mobility and productivity, for software and hardware that is easily integrated, and provides the user with the ability to use our two most basic input devices – the pen and our fingers.
About Canaan Partners:
Canaan Partners invests in visionary entrepreneurs and provides them the networks, insights and operational guidance required to build high-performance technology and healthcare companies. For over 20 years, Canaan has taken an active and committed role in the companies in which it invests, and has helped its portfolio companies complete about 70 mergers and acquisitions and 53 IPO's. With $3 billion under management and a worldwide footprint, the firm is committed to catalyzing the growth of innovative companies in the digital media, communications & mobility, enterprise and clean-tech industries. Among its successes are DoubleClick, the leading online advertising solution, Match.com, the most popular online dating site in the world, CommerceOne, the company that pioneered B2B ecommerce; Capstone Turbine, first to market and world's leading producer of commercially viable microturbine energy products; and VOIP equipment supplier Acme Packet, which was one of the top ten performing tech IPOs of 2006. Canaan has offices in California, Connecticut, India and Israel. For more information please visit: www.canaan.com.
Evergreen Venture Partners was established in 1987 as one of Israel’s first venture capital firms. Evergreen invests in early-stage Israeli and Israel-related companies in the following fields: software, Internet & media, communications and healthcare. Evergreen’s $650 million of venture capital funds under management represents one of the largest portfolios in Israel with investments in over 120 technology start-ups. Evergreen has exited successfully 35 portfolio companies through IPOs and acquisitions. Some of these companies include Traiana, Colbar, Identify, BigBand, P-Cube, Actona, Backweb, Exalink, Radvision and Radware. Evergreen is currently investing from its fifth generation fund, Evergreen V, a $200M fund. For more information, please visit www.evergreen.co.il
N-trig is revolutionizing the way people interact with computers by providing the industry’s first dual-mode pen and touch input device. N-trig’s DuoSense technology is the only combined pen, touch, and multi-touch interface for today’s advanced computing world. N-trig’s DuoSense dual-mode digitizer uses both pen and zero-pressure capacitive touch to provide a true Hands-on computing™ experience for mobile computers and other digital input products over a single device. DuoSense enables greater mobility and usability in the next generation of computing devices and notebook PCs, enabling new market opportunities for OEMs and ODMs to introduce computer products which offer a more intuitive and interactive experience. N-trig’s digitizers are easily integratable, support any type of LCD, and keep devices slim and light. N-trig’s technology can be implemented in a broad range of products from small notebooks to large format LCDs and can support a variety of applications including mobile, notebooks, convertible and all-in-one computing, gaming, entertainment, multimedia and more. Founded in 1999, N‑trig is headquartered in Kfar Saba, Israel with offices in Austin, TX and Taipei, Taiwan. For more information please visit www.n-trig.com.