Touch Biometrix acknowledged in new fingerprint sensor market report
Fingerprint technology company Touch Biometrix announced that it has been recognized as a key global player in a new report that predicts the fingerprint sensor market is expected to grow from $4.25 billion in 2018 to $8.8 billion by 2023.
Touch Biometrix was founded in 2017 by Dr Mike Cowin with the aim of becoming one of the top five fingerprint sensor suppliers in the world by 2023. The company explains that it is developing a range of fingerprint sensors based on proprietary technology and sensing algorithms for a more convenient user experience on a wider range of products.
Just last month Touch Biometrix announced it had secured £150,000 seed investment from Deepbridge Capital to enable the business to develop new fingerprint-based solutions for a range of consumer electronics.
“Our new manufacturing model is set to disrupt the market in terms of performance and cost, at less than $1 a unit,” said Dr. Cowin when announcing the investment. “Fast, secure and impossible to spoof, our technology will eliminate the need for passwords. We will be using the money from the initial seed funding round to establish a minimum viable product in collaboration with our supply chain partners.”