TouchType secures seed investment

Predictive text specialist TouchType has received seed funding of £275,000 from venture capitalist Octopus Investments.

Further funds are earmarked for follow-on rounds, according to investment director Jo Oliver who led the deal on behalf of Octopus.

Jonathan Reynolds, CEO of TouchType, remarks, ‘The investment will allow us to accelerate our product and commercial development and help us make a substantial market impact with our prediction technology.’

TouchType began trading in August 2008 and secured its first contract with a phone manufacturer earlier this year. Negotiations with other manufacturers are underway.

The company claims that its technology boosts writing efficiency by up to 50 per cent compared to a QWERTY keyboard.

Nick Britton

Nick Britton

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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Seed funding