Square 1 Bank announced that it has provided a $2 million debt facility to new client Novasentis, a leading developer of haptic actuators and sensory technology. Proceeds of the credit facility will support the company’s continued growth and operations while it further develops its Electro-Mechanical Polymer (EMP) technology platform.
Novasentis is backed by several prominent institutional investors and the company has set new standards for the world of consumer electronics and medical devices by revolutionizing man-machine interactions through the electricity of touch and the resulting vibro-tactile feedback. The company develops a unique actuator and sensor technology that can be used to animate devices in various industries with localized haptic feedback, sound, and physical surface deformation. The technology is paper-thin, flexible, and is complementary to many new flexible display technologies.
“As an industry as a whole, we are seeing trends that lead to the Neo-Sensory™ Age, where computers and devices come alive with haptics and sensory technologies. We are pleased to announce a partnership with Square 1 Bank, and are confident that this partnership will enable us to take the company and its products to a new level,” said Christophe Ramstein, President and CEO of Novasentis.