Taiwan’s Foxconn leads $22m Series A funding in US firm SigmaSense

The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company's headquarters in New Taipei City, Taiwan March 29, 2016. REUTERS/Tyrone Siu/File Photo

US-based touch screen performance producer SigmaSense has raised $22 million in its Series A round led by Foxconn Technology Group, per an announcement.

The funding will help the company enhance the development of its proprietary semiconductor and software solutions for a new generation of touch and touchless human-machine interfaces.

Other strategic investors who participated in the round include Corning, E Ink, GIS, MRI and former Dell CFO Tom Meredith, according to an announcement.

The company said that it intends to leverage these strategic relationships to expand its operations in the high-growth $4.7 billion touch controller market.

“This financing, and the powerful syndicate behind it, provide a strong endorsement of SigmaSense’s technology breakthrough and the impact across market opportunities,” said Rick Seger, CEO at SigmaSense.

Founded in 2015, SigmaSense provides a digital and fully-scalable sensing technology to solve the noise immunity and tuning challenges of traditional touch sensors.

Foxconn, formally known as Hon Hai Technology Group, is a Taiwanese multinational electronics contract manufacturing company.

In 2018, the Taiwanese manufacturing giant partnered with three US firms to establish a $100-million early-stage venture capital fund that invests in American and global startups.

The fund, named Wisconn Valley Venture Fund, will be established by Foxconn, integrated health firm Advocate Aurora Health, diversified technology firm Johnson Controls, and financial firm Northwestern Mutual.

Most recently, Foxconn made headlines when it announced its plan to invest up to $1 billion to expand a factory in southern India where the Taiwanese contract manufacturer assembles Apple iPhones.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.