What is TruTouch Technologies?
TruTouch Technologies, Inc. is at the forefront of developing and manufacturing patented noninvasive alcohol and biometric testing systems. These systems are designed to provide companies with a truly effective, unobtrusive method for verifying sobriety on a routine basis. The company's vision is to integrate its passive, durable systems into various environments, aiming to intercept alcohol consumption before it leads to harm, thereby fostering safer workplaces and communities.
How much funding has TruTouch Technologies raised?
TruTouch Technologies has raised a total of $33.8M across 6 funding rounds:
Debt
$725K
Private Equity
$1.4M
Series A
$21M
Series B
$5M
Debt
$5.2M
Private Equity
$500K
Debt (2008): $725K, investors not publicly disclosed
Private Equity (2009): $1.4M, investors not publicly disclosed
Series A (2011): $21M, investors not publicly disclosed
Series B (2012): $5M, investors not publicly disclosed
Debt (2013): $5.2M backed by iTulip Investor Group and LaunchPad Venture Group
Private Equity (2017): $500K with participation from Verge Fund
Key Investors in TruTouch Technologies
Verge Fund
Verge Fund is a venture capital fund based in Albuquerque, NM, focused on investing in seed-stage, high-growth ventures in the Southwest. The fund aims to build an innovation-led economy in New Mexico by leveraging significant research and development resources available in the region. With a team of experienced professionals, Verge Fund is dedicated to supporting entrepreneurs and fostering the growth of impactful companies in the state. Their portfolio reflects a commitment to developing world-class businesses that contribute to New Mexico's technological advancement.
iTulip Investor Group
iTulip is an online community and forum focused on economics and finance, providing a platform for discussions among over 50,000 registered members from 78 countries. The company offers in-depth macroeconomic trend analysis and forecasting, with a history dating back to 1998. Members can access premium content and participate in various discussions, including market commentary and political debates. iTulip aims to educate and inform its audience about economic challenges and trends through collaborative dialogue and expert insights.
LaunchPad Venture Group
Launchpad Venture Group is a network of angel investors focused on providing financial and human capital investments in early-stage tech and science-driven startups based in New England. The company seeks to build long-term relationships with innovative entrepreneurs and offers mentorship alongside its capital investments. Since its inception in 2001, Launchpad has invested over $125 million in more than 150 startups. They invite dedicated founders of unique startups to apply for funding and encourage investors to engage with the startup community.
What's next for TruTouch Technologies?
With the recent major strategic investment, TruTouch Technologies is poised for accelerated growth and market penetration. The company is likely to leverage this capital infusion to expand its manufacturing capabilities, enhance its research and development efforts for next-generation testing solutions, and broaden its sales and distribution networks. This strategic financing indicates a strong market confidence in TruTouch's technology and its potential to address critical safety and compliance needs across various industries.
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