Aito, a provider of touch user interface technology, has raised EUR2 million in follow-on funding from existing and new investors. The round was lead by INKEF Capital (whose recent additional funding we covered earlier) and Sirius EcoTech Fund, a German venture capital fund.
Aito was formed as a merger between a spin-off from a Dutch company producing “piezo” keyboards (human touch) and a Finnish team experienced in “haptic” feedback (touch feedback). The firm was founded by Rene de Vries, Pauli Laitinen and Jockum Lönnberg and received its first venture capital in 2012. The Amsterdam/Helsinki based startup now raised an additional EUR2 million from existing investors INKEF Capital (VC firm backed by APG Pension Fund) and new addition Sirius EcoTech Fund (German tech VC).
The company’s products aim to create intuitive user interfaces that enable a consistent user experience. They can be applied in consumer and domestic appliances through to industrial, medical and automotive applications. With Aito producers can change the perception of touch switches, from ‘just switches’ to feature-rich controls.
De Vries, CEO of Aito, commented on the new round: “We welcome Sirius Venture Partners to our investor group and are proud of the continued support of our existing investors. This financing round enables us to accelerate our growth and our customer base.”
Sirius partner Johannes Peschko explains their perspective: “Market response to the launch of the AitoChip has been very positive, already resulting in many design-ins in the kitchen and consumer electronic markets. The recent addition of haptic feedback to Aito’s products will further boost the company’s growth. By working together with some of the leading global players in the electronics industry Aito can scale up very rapidly.”
Image credit: Aito