Neonode raises $14m for contactless sensing

Neonode raises $14m for contactless sensing

Business news |
By Nick Flaherty

Neonode, based in Stockholm, is selling 1.8m shares at $7.75 per share in a registered direct offering due to close today.

The company plans to use the net proceeds of $14m from the offering for continuto boost awareness of contactless touch post-Covid-19 as well as Neonode’s Touch Sensor Modules. This will also support growth of production of the Touch Sensor Module.

The company develops zForce optical sensing platform for touch and gesture sensing and MultiSensing, our development platform for advanced, safe and traceable software applications used to provide situational context.

It has over 120 patents and the technology being deployed in more than 75 million products over the last 20 years.

Earlier this month the company signed a value-added reseller agreement with EIL to design, promote and sell contactless touch products and solutions featuring Neonode contactless technology in China and Hong Kong.

“We are excited to work with EIL and increase our footprint in China. EIL is an experienced and capable company and we see a great potential to grow our contactless business in China together with them,” said Urban Forssell, CEO of Neonode

Ronnie Kong, CEO of EIL, said: “We are impressed with the performance and versatility of Neonode’s contactless technology, and we look forward to better solving our customers’ challenges and a pure win-win collaboration.”

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