Co-Led by CDC Innovation and Auriga
BORDEAUX, France, March 10, 2009 – Stantum Technologies (www.stantum.com), a pioneer developer of multi-touch sensing technologies, announced today it has secured $13 million in Series B funding. CDC Innovation and Auriga Partners co-led the round with XAnge Private Equity as historical investor (2007).
Valery Huot, managing partner of CDC Innovation, and Philippe Granger, partner at Auriga Partners, have joined Stantum’s board of directors, alongside Nicolas Rose, partner at XAnge Private Equity.
According to Stantum CEO Etienne Paillard, the new funding will be used to develop a worldwide sales and marketing organization in the U.S., Europe and Asia; increase R&D capacity for next-generation sensing technologies and new products; and establish and increase mass manufacturing capabilities through partners.
Stantum, originally called JazzMutant, was founded in 2002 with an aim to develop new human-machine interface standards for the creative industry. In 2003, JazzMutant produced the world’s first multi-touch screen that could track an unlimited number of fingers at once. In 2005, JazzMutant launched the first multi-touch product, the first such on the market. Facing an ever-growing demand from various OEMs, the company began working in 2006 to make its patented multi-touch technology available to third-party integrators. In 2007, after a round of financing led by XAnge Private Equity, JazzMutant became Stantum and officially launched its OEM activity.
“Stantum has assembled an unparalleled engineering and top management team with a proven track record of bringing leading products to market,” said Huot. “The company has already demonstrated cutting edge multi-touch solutions that are attracting strong partner and customer interest for mobile phones, navigation devices, and other consumer electronics equipment.”
“We are very excited to be supporting Stantum and are impressed by the progress the company has made to date. Stantum’s focused strategy and unique multi-touch technologies provide a very strong foundation for future success,” added Granger.
Vadis Ventures, a corporate finance boutique focused on the high-tech sector, advised Stantum through this round of financing.