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OptoForce secures €600k investment from Finext and Day One Capital

OptoForce successfully closed an investment round with Finext Startup and Day One Capital. The joint investment deal secures a 600,000 Euro funding for the hardware startup and its proprietary product, a multi-dimensional force and pressure sensor.

OptoForce won several Hungarian startup competitions in 2012, such as the the Startup Underground and the Hungarian Innovation Tech Show. Their primary product is a proprietary sensor hardware, that is capable of measuring forces from several directions. Unlike other sensors already available on the market, OptoForce is capable of determining not only the magnitude, but also the direction of the forces applying to it.

In adition to its three dimensional sensing capability, the device is very sensitive yet extremely durable, making it virtually invoulnerable to overloads. The same device can measure the weight of a feather or of a railway cargo wagon. This patented technology is expected to open a whole new market of force and pressure sensors.

The product is a result of years of development in robotics at the Faculty of Information Technology of the Peter Pazmany Catholic University. The university spin-off company has already sold simulation kits to leading robotics laboratories and industrial automation companies. Their strategy of serving OEM manufacturers has yielded partnerships with more than ten major industrial companies.

Many venture capital funds have expressed their interest in the technology. The company accepted the joint offer from Day One Capital, aimed at focusing at supporting early stage activities of companies, and Finext Startup, with experience in helping the expansion to international markets. In addition to the 600,000 Euro funding, the investors also provide management and legal services, R&D network, and innovation infrastructure to their new portfolio company.