NEWS: TruTouch Technologies Closes $3M B Round Financing with the iTulip Community as Lead
TruTouch Technologies Closes $3M B Round Financing with the iTulip Community as Lead
Pioneer in non-invasive biometric intoxication detection systems secures financing that enables contract manufacturing & sales & marketing of its alcohol intoxication & biometric devices to build revenues
ALBUQUERQUE, N.M. & FRAMINGHAM, Mass., Feb 07, 2012 (BUSINESS WIRE) -- TruTouch Technologies, a pioneer in non-invasive biometric intoxication detection systems, today announced that it has secured $3M which will enable the company to build sales revenues through direct sales and secure additional licensing partners.
Dr. Richard D. Gill, President & CEO of TruTouch, said, "This financing marks completion of a significant milestone in the commercialization of the TruTouch alcohol measurement technology. TruTouch measurement offers employers, individuals, and society in general the tools to intercept alcohol intoxication before it does harm. The technology is gaining acceptance in workplace, medical, point of sale."
TruTouch products employ an advanced intoxication detection technology that uses light to measure a subject's alcohol level without collecting bodily fluids or other invasive means. A user places a finger on a fiber optic touchpad that analyzes the alcohol concentration in the user's body and at the same time identifies the user. The device can produce accurate results in seconds, and performs built-in biometric identification to ensure test result integrity.
Unlike other technologies, TruTouch products require no user training, no disposables, no samples, and no operator assistance or supervision. TruTouch commercializes an optical sensor that accurately measures alcohol intoxication while simultaneously verifying user identity. The self-administered test detects employee alcohol abuse, allowing employers to take action before a shift begins and removing impaired employees in high-risk occupations.
Eric Janszen, Founder of iTulip, Inc. and lead of the investor syndication, said, "Our community believes that TruTouch management has demonstrated to its investor base that it can advance the company's unique technology and patent portfolio to the next stage of growth in a growing market. We are proud to lead in the syndication of this round of financing along with Launchpad Venture Group, Verge Fund, and Jerome Capital."
Current and future TruTouch applications include:
-- Workforce Workplace Safety Systems
-- Medical Diagnostic Systems
-- Alcohol Point-Of-Sale Liability Reduction Systems
-- Law Enforcement Systems
-- Industrial Safety Systems
About TruTouch Technologies
TruTouch Technologies, Inc., develops, manufactures and sells patented noninvasive biometric alcohol testing systems into both existing and emerging alcohol testing markets. Inspired by the potential to place its passive, durable systems virtually anywhere, TruTouch's vision is to create a world where intoxication is routinely intercepted before it does harm.
About iTulip, Inc.
iTulip, Inc., is the Lexington, MA-based global online economics and financial markets community founded by Eric Janszen in 1998 with more than 50,000 members and 1,000 subscribers from 75 countries, that The New York Times, CNBC, and others credit with more than a decade of accurate economic and market forecasting.
SOURCE: TruTouch Technologies, Inc.
TruTouch Technologies, Inc. Dr. Richard D. Gill, 269-823-8430
www.trutouchtechnologies.com Copyright Business Wire 2012
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