Tobii Technology Raises EUR 16 million in Funding
Stockholm 15th of May 2009 – Tobii Technology AB is raising a €16 million (MSEK 170) expansion capital from Amadeus Capital Partners, Northzone Ventures and existing investor, Investor Growth Capital. The capital will be used to expand Tobii’s groundbreaking Eye Tracking technology into existing and new markets and applications. This is the outcome of an agreement that has been reached between the main owners and the investors.
Tobii is one of the most rapidly growing companies in Europe and the undisputed global leader in eye tracking technology and solutions. It was founded in 2001 and attracted its first institutional investment from Investor Growth Capital in 2007. This enabled Tobii to broaden its product range and to expand internationally. Today, the company employs some 200 people with 7 offices worldwide.
The new funding will be used to further accelerate growth in existing application areas, Analysis and Assistive Technology. Tobii’s eye tracking solutions provide companies with insight into consumer behaviour and software usability and are used in various fields of academic research. Tobii also provides eye-controlled communication devices and other communication devices for the disability market.
Tobii will also advance into entirely new markets. Tobii recently made a technological breakthrough by launching an embedded eye tracking system on a chip, which will enable Tobii to integrate eye tracking with a wide array of products in new markets such as anti-drowsiness for vehicles, general computers, medical diagnostics and gaming.
“Tobii has demonstrated that they have what it takes to succeed as a product company in a global arena”, says Jeppe Zink of Amadeus. “Excellent technology and demonstrated ability to grow rapidly puts Tobii in a unique position to capitalize on the huge opportunities of Eye Tracking. We look forward to working with this company in their continued growth and success”, says Hans Otterling of Northzone Ventures.
“We are very happy with how Tobii has developed through the hard work of all the people behind it and we are delighted to be joined by Amadeus and Northzone to give Tobii means to seize the opportunities ahead”, says Anders Ösund of Investor Growth Capital.
Commenting on the new funding, John Elvesjö, Vice President, said: “Tobii is growing rapidly and profitably, but we need to harness our ambition to the experience of international investors with track records in building successful global technology companies, which this funding round enables us to do”.
For further information, please contact:
John Elvesjö, Executive Vice President and founder, Tobii Technology, +46-704-82 34 98, john.elvesjo@tobii.com
Jeppe Zink, Amadeus, +44(0)20 7024 6900 or Chantal Ligertwood, PR for Amadeus, +44 (0)7976 229 210
Hans Otterling, Northzone, +46 706 23 28 28, hans@northzone.com
About Tobii Technology
Tobii Technology is the global market leader in hardware and software solutions for eye tracking and eye control. Our products are widely used within the scientific community, in commercial market research and usability studies, as well as by disabled people as a means to communicate. Tobii also drives integration of eye tracking technology in many other areas, offering OEM components for integration into various industry applications.
Founded in 2001, Tobii has continuously shown very rapid year-to-year revenue growth. The company is headquartered in Stockholm, Sweden, with offices in the U.S., Germany, Norway, Japan and China. Products are sold directly to customers and through resellers and partners worldwide. www.tobii.com
About Amadeus
Amadeus is one of Europe’s leading technology investors. Since inception in 1997, the firm has backed over 70 companies covering computer hardware and software, mobile and fixed communications technologies, medical technologies and clean technologies. Investments include CSR, producing single chip bluetooth radios for short range connections and floated on the London Stock Exchange in 2004, Optos, a manufacturer of laser retinal scanners which had a successful IPO on the London Stock Exchange in 2006, PacketFront, a Swedish company providing systems to manage end-to-end delivery of multiple broadband services and Solexa, the developer of next generation genetic analysis systems, merged with Illumina Inc.
Amadeus Capital Partners Ltd is authorized and regulated by the Financial Services Authority. Registered office: Mount Pleasant House, 2 Mount Pleasant, Cambridge CB3 0RN, UK. Registered in England no: 3392685. www.amadeuscapital.com
About Northzone
Northzone is a European Venture Capital Partnership with a Nordic stronghold, with eight dedicated partners in Oslo, Stockholm and Copenhagen - most of whom are themselves former successful, entrepreneurs. Northzone was founded in 1994, has raised and managed five funds with consistent top-tier returns and currently manage EUR 355 Million. www.northzone.com
About Investor Growth Capital
Investor Growth Capital is the wholly owned venture capital arm of Investor AB, the largest industrial holding company in the Nordic region. Investor Growth Capital manages more than 100 high-quality, growth-oriented companies, primarily in the information technology and healthcare industries, in Northern Europe, US and Asia. www.investorgrowthcapital.com