The technology start-up company Forciot has announced that Heraeus Holding GmbH and Volvo Cars’ Technology fund AB have made investments in the company as part of the Forciot’s Series A investment round.
Forciot’s product is a unique stretchable electronics and algorithm solution that measures and reports accurately force, weight, balance and pressure and the system can also be utilized as HMI touch controller. Investment enables Forciot to broaden up its international business entry and supply chain operations.
A globally leading technology group, Heraeus combines material expertise with technological know-how. “Stretchable electronics and sensor technology are a future growth market for Heraeus. Our investment in Forciot allows us to open up this market even more and to continue to learn, and it supports our growing electronics and sensor technology areas.”, says Dr. Frank Stietz, head of the Heraeus’ Business Area Electronics.
Volvo Cars as one of the most respected and recognizable premium car brands in the world, focuses on innovation and world-leading technologies. “At Volvo Cars we see potentials in Forciot’s technologies that can be used for next-generation car interiors. These technologies could be the base for new features that would offer innovative safety and comfort improvements”, says Andreas Strasser, Investment Director at Volvo Cars. In addition to automotive sector Forciot offers the technology also for logistics and wearable manufacturers that need advanced stretchable sensor solutions to bring intelligence into their products and challenging measurement environments.
“We are thrilled to have closed the Series A investment round with such great companies. Both, Heraeus and Volvo Cars, have admirable track record in innovation and both are operating in Forciot’s strategic business and learning areas.”, says Tytti Julkunen, Forciot Co-Founder and Chairman of the Board. Forciot is already operating worldwide providing its technology solutions for large scale B2B customers. “This investment enables us to scale up Forciot operations further to prepare for the mass volume phase and supports greatly also our global sales, marketing and technology development growth plans.”, says Maria Alm, Forciot Co-Founder and CEO.
Heraeus, the lead investor in the Forciot Round A, is relying strategically on these innovative thinkers. “We are always on the lookout for start-ups engaged with pioneering technologies,” says Mario Hehle, Head of Innovation at Heraeus. “Investing to Forciot fit in well with our strategic goals for future growth markets, as well as our goals of networking knowledge and learning from the creative minds of the future.”
A globally leading technology group, Heraeus is headquartered in Hanau, Germany. Founded in 1851, it is a family-owned portfolio company which traces its roots back to a pharmacy opened by the family in 1660. Today, Heraeus combines businesses in the environmental, energy, electronics, health, mobility and industrial applications sectors. In the 2017 financial year, Heraeus generated revenues of €21.8 billion. With approximately 13.000 employees in 40 countries, the FORTUNE Global 500-listed company holds a leading position in its global markets. Heraeus is one of the top 10 family-owned companies in Germany. With technical expertise, a commitment to excellence, a focus on innovation and entrepreneurial leadership, we are constantly striving to improve our performance. We create high-quality solutions for our clients and strengthen their long-term competitiveness by combining unique material expertise with leadership in technology.
About Volvo Cars Tech Fund:
Volvo Cars started producing automobiles in Sweden in 1927. Today, Volvo Cars is a global premium car maker with sales in about 100 countries. The Volvo Cars Tech Fund makes strategic investments and provides global market access for innovative ideas in the mobility and tech sectors. As the brand is recognized worldwide for advanced design and engineering, quality, and Scandinavian cool, the fund is always looking for the next breakthrough that will shape the future of transportation and mobility.
Forciot is a Finnish start-up company established in December 2015. The company is Headquartered in Tampere and it develops advanced IoT sensor solutions. Forciot’s unique stretchable electronics solution can be integrated to products and equipment to measure and report accurately force, weight, balance and pressure. The innovative printed electronics solution can be utilized also as an HMI touch controller responding to gesture or to replace buttons in elastic environments when integrated as an example into car interiors. Due to the advanced reading algorithms and related machine learning elements, the Forciot system self-calibrates to assure accurate measurements and functionality during the lifecycle of the product. Forciot’s key business areas are automotive, logistics and wearable sectors.