Eye tracking specialist Tobii Technology has raised €16 million (£14 million) in expansion capital from new and existing investors.

Eye tracking specialist Tobii Technology has raised €16 million (£14 million) in expansion capital from new and existing investors.

The money is from venture capital firms Amadeus Capital Partners and Northzone Ventures, as well as existing backer Investor Growth Capital which first invested in the company in 2007.

It will help Sweden-based Tobii expand within its existing market, assisting product developers with insights into consumer behaviour, in addition to commercialising a new technology whereby its eye-tracking technology is embedded onto a chip. This opens up the potential for new products including anti-drowsiness tools for vehicles, as well as new applications for the technology in medical diagnostics and gaming.

Tobii’s vice president John Elvesjö says, ‘Tobii is growing rapidly and profitably, but we need to harness our ambition to the experience of international investors, which this funding round enables us to do.’