LONDON Tobii Technology AB, the Stockholm, Sweden based start-up developing technology allowing people to control computers using only their eyes, has raised Euros 16 million ($21.7m) in venture funding.
The round was led by Amadeus Capital Partners, Northzone Ventures and existing investor, Investor Growth Capital.
The funds will be used to expand the company’s Eye Tracking technology into new markets and applications as well as expand its sales efforts.
The company focuses on eye-tracking equipment used by disabled people to write text messages with their eyes by looking at a sensor-enabled keyboard. It is also installed in PC monitors to help designers understand how people's eyes move around a website.
The patented eye-tracking technology uses a small optical sensor, similar to a camera, which is embedded in monitors, cash machines or portable computers.
Tobii was founded in 2001 and attracted its first institutional investment from Investor Growth Capital in 2007. It was a spin-out from Sweden's Royal Institute of Technology.
The company now employs some 200 people in seven offices worldwide and in its last financial year had sales of Euros 19 million.
Tobii recently launched an embedded eye tracking SoC for integrating into a wide array of products in new markets such as anti-drowsiness for vehicles, general computers, medical diagnostics and gaming.
Commenting on the new funding, John Elvesjö, Vice President, said: "Tobii is growing rapidly and profitably, but we need to harness our ambition to the experience of international investors with track records in building successful global technology companies, which this funding round enables us to do."