Baanto International Ltd, a specialist in innovative products for touchscreens and interactive white boards, has obtained $6 million in Series C financing. The deal was led by Canadian specialty finance firm Difference Capital Financial, which invested $3 million. Funding proceeds will allow Baanto to continue to expand its marketing, sales, and operations efforts as well as enhancing its range of advanced touch technology products. Based in Mississauga, Ontario, the company has a direct and partner presence in North America, South America, Europe, and Asia.
Baanto™ Partners with Difference Capital as Lead Investor in Series “C” Funding
MISSISSAUGA, ONTARIO–(Marketwired – Jan. 9, 2014) – Baanto™ Inc. today announced that they have completed a Series “C” round of funding led by lead investor, Difference Capital, to fuel the growth of Baanto™ touch technology products. A publically listed, Toronto based specialty finance company, Difference Capital is a strategic investor and advisor to growing companies in the technology sector.
“We are very pleased to add Baanto to our portfolio,” said Tom Astle, Managing Partner at Difference Capital. “We believe that Baanto’s touchscreen technology, developed with unique and proprietary intellectual property, offers unparalleled performance in the large format and industrial segments of the market.”
“We are very excited to have Difference Capital lead our $6 million growth financing round,” said Avanindra Utukuri, Executive Chairman of Baanto. “Difference Capital’s leadership combined with the investments made by strategic customers and partners in this round are a resounding validation of our technology, product, and market initiatives. Baanto enters 2014 with a diverse customer base and we are confident that 2014 will demonstrate material revenue expansion for our company.”
Based on the proprietary and patented ShadowSense™ technology, Baanto touch products currently span from 8″ to over 267″ in size and provide touch capability to customer products in industrial, medical, kiosk, gaming, and digital signage market segments. This new round of investment will enable Baanto to continue to expand its marketing, sales, and operations efforts as well as enhancing its growing range of advanced touch technology products.
“Over the last two years, Baanto has established ShadowSense based products as a premier, high performance, yet cost effective touch solution for demanding applications,” commented Joe Kotas, President of Baanto. “Some of our notable industrial design wins include a highly ruggedized 8″ design that has demonstrated ambient light resistance greater than 2.5 times brighter than full sunlight and a ticketing kiosk touchscreen that has to withstand being hit with a baseball bat. In addition, multiple customers are evaluating Baanto ShadowSense for other harsh environments such as industrial control, automotive, and aerospace applications. For the less challenging, but more cost sensitive applications in large format sizes from 32″ to 87″. Baanto has multiple engagements in arcade gaming, way-finding and information kiosks, as well as traditional DOOH signage applications. Our ability to provide a cost competitive product that works regardless of the ambient lighting conditions has been just one key to our success in these markets. The closing of our C round funding will not only allow the company to extend the technical innovation Baanto has demonstrated over the last four years, but equally important, to build up the sales and customer support resources the growing customer engagements require.”
About Difference Capital Financial Inc.
Difference Capital Financial Inc. is a publicly-listed, Toronto-based specialty finance company focused on creating shareholder value through strategic investments in, and advisory services for, growth companies, particularly in the technology, media and healthcare sectors, as well as through opportunistic investments in undervalued financial assets and real property.
Baanto International Ltd. is a leading developer of innovative, high performance, and cost effective touch sensing solutions. Baanto is developing products incorporating both active and passive implementations of its technologies for touchscreens and interactive white boards in sizes ranging from 8″ to over 267″. Baanto has a direct and partner presence in North America, South America, Europe, and Asia, enabling it to provide its customers with proven technical and sales support worldwide.
Baanto™ and ShadowSense™ are trademarks of Baanto International Limited.
For more information visit: www.baanto.com.
Baanto International Ltd.
Director of Marketing
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