Touch Sensity announces that it has raised an equity round of €1.75 million that sees the participation of Liftt, Newfund Nouvelle Aquitaine Euskal Herria, NACO, a co-investment fund managed by M Capital Partners and the Swiss fund DAA Capital.
Touch Sensity has developed a technology that makes objects and materials sensitive to physical interactions, allowing constant and real-time monitoring of any damage or malfunction.
Touch Sensity, thanks to an additional €1.3 million in bank loans and grants from Bpifrance and the Conseil Régional de Nouvelle-Aquitaine, has raised a total of €3 million in this second round.
The capital raised will allow the continuation of the development and commercialization of Touch Sensity’s patented predictive technology, which allows the monitoring of structural health and identifies and measures the intensity of damage to materials, intended for major manufacturers in the automotive, rail and aerospace sectors. The first proposed solution is Sensity Smart Tank for monitoring hydrogen tanks for cars, buses, commercial vehicles and trains.
“We enable manufacturers to move from scheduled maintenance to condition-based maintenance. In other words, with our system they can have access to the health of the components during scheduled maintenance, but also during their operation, which is currently difficult to achieve,” Ganna Pugach, president of Touch Sensity, said in a statement. Touch Sensity technology alerts manufacturers as soon as a part is damaged and tells them exactly where the damage is, its size and magnitude. We provide the market with an innovative solution for monitoring the health of facilities, with the aim of reducing the number of breakdowns, intervention times, downtime and increasing equipment availability. The goal is to optimize industrial maintenance plans, while reducing the cost of operations, as well as reducing component waste.”
“The structural health monitoring market, in which Touch Sensity is positioned, is rapidly expanding and is expected to grow from $2.2 billion in 2022 to $5 billion in 2028. Our patented technology and unique know-how are in themselves the main barrier to entry into this market,” says Mehdi El Hafed, CEO of Touch Sensity.
Francesco Lo Cascio, project manager at Liftt says: “The technology developed by Touch Sensity represents a turning point in the control, maintenance and safety of structural components, and can be applied with great precision to multiple industrial sectors. Liftt has always been focused on high-tech startups capable of innovating and creating a disruptive effect in the reference industrial sector”.
“We believe that intelligent understanding of the information conveyed by materials is an important trend that Touch Sensity will be able to leverage, with a world-class team and technology,” said Bertrand Mueller, founder of DAA Capital Partners.
Agathe Descamps, Newfund NAEH investor, adds: “The disruptive technology developed by Touch Sensity and the quality of the team convinced us from the very first round of funding and we are delighted to support them with Newfund NAEH in their development. (Photo by Diego Mazz on Unsplash)
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