Touch screen co N-trig raises $16m

The fund raising is part of a current round of $30 million.

Israeli start up N-trig has recently finished raising $16.2 million, part of a current round of $30 million, according to a filing by the company with the US Securities and Exchange Commission. The company, which develops systems and chips for touch screens, set out a few months to raise $40-50 million, which is meant to take it up to an IPO. The current fund raising brings the total amount the company has raised to $121 million.

N-trig was founded in 1999 by Meir Morag, and is headed by Amichai Ben-David. It is considered one of the most interesting Israeli start ups of the past decade, as its products are aimed at the end user, and are especially relevant to the newest kinds of computing devices. N-trig has developed a system that integrates with LCD screens and detects movement on the screen. The technology is called DuoSense, and it facilitates full contact with the screen using a pen or a finger, in a way that can replace the mouse.

Among the investors in N-trig are Poju Zabludowicz's Tamares fund, the Evergreen and Canaan Partners venture capital funds, the Kahan family, the Mariner hedge fund, and private investors. The company has also received a loan from the Plenus fund, and Microsoft is a strategic investor. The current round has widened the circle of investors. The company states in its filing with the SEC that it received the money from 22 investors, which means that more investors have joined.

Published by Globes [online], Israel business news - - on July 13, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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