Forciot secured $4.6M in strategic investment from Volvo and Heraeus Holding.
Forciot, a Tampere, Finland-based company manufacturing advanced IoT sensor solutions, announced in a press release securing EUR 4M ($4.6M) in a Series A investment round.
The money was raised from strategic investors led by the German technology group Heraeus Holding GmbH and including Volvo Cars’ Technology fund AB. The investment enables Forciot to broaden up its international business entry and supply chain operations.
Forciot, founded in 2015 by CEO Maria Alm and Tytti Julkunen, developed a product which combines a unique stretchable electronics and algorithm solution that measures and reports accurately force, weight, balance and pressure and the system can also be utilized as HMI touch controller.
In addition to automotive sector Forciot offers the technology also for logistics and wearable manufacturers that need advanced stretchable sensor solutions to bring intelligence into their products and challenging measurement environments. Forciot is already operating worldwide providing its technology solutions for large scale B2B customers.