Your Source for Venture Capital and Private Equity Financings

TruTouch Technologies Adds $2.2M

2013-10-23
ALBUQUERQUE, NM, Makers of the world's first and only accurate, networked, biometric alcohol sensor, announced today that the company has raised $2.2 million.
TruTouch Technologies, Inc., makers of the world's first and only accurate, networked, biometric alcohol sensor, announced today that the company has raised $2.2 million to finance the expansion of sales of its products into the global energy, mining, and transportation industries.

Led by the iTulip Investor Group, an investor community operating from the well-respected Finance and Economics firm iTulip.com, with participation by the Launchpad Venture Group, the new funding will enable the company to expand production and sales for its rapidly growing business.

The executive team of President and CEO Dr. Richard D. Gill, Co-founder & CTO Trent Ridder Ph.D., Co-Founder & VP Engineering Ben Ver Steeg, CFO David Desrochers CPA, and SVP Sales and Strategic Partnerships Oscar Lazaro is uniquely suited to building a highly successful networked sensor business for fixed and mobile applications.

'The iTulip Investor Group is excited to support the TruTouch team as it expands the business into the secure access market,' stated Eric Janszen, founder and President of iTulip, Inc. 'Only TruTouch can guarantee its customers 100% denial of access to safety-sensitive facilities by alcohol impaired persons even if those facilities are unsupervised and located in remote areas.'

'Through its extensive distribution network of over 20 distributors operating in 14 countries around the world TruTouch is solving a critical problem for major corporate and government clients,' stated CEO Dr. Richard Gill. 'In seconds the TruTouch sensor identifies the person touching it and simultaneously measures blood alcohol level with a high degree of accuracy.'

SVP Oscar Lazaro said, 'For companies in the mining, energy, and transportation industries in particular it's not enough to keep almost every impaired person out of a single facility. For large corporations with global operations only TruTouch can prevent accidents and mistakes in high risk and high value environments at every facility on the corporate network worldwide by ensuring that those who are unfit for duty cannot enter a facility to cause harm to themselves or others.'

COMPANY DESCRIPTION: TruTouch Technologies

TruTouch Technologies, Inc. develops, manufactures and sells patented noninvasive alcohol detection and biometric testing systems. These novel systems provide companies with the only truly effective deterrent system available for unobtrusive verification of sobriety on a daily or routine basis. Inspired by the potential to place its passive, durable systems virtually anywhere, TruTouch's vision is to create a world where alcohol consumption is routinely intercepted before it does harm.

The TruTouch 2500 workplace sobriety assurance device is a networked instrument that detects alcohol concentration by directly measuring alcohol levels through the skin using a safe infrared light and an optical touch pad. The device also features biometric capability to verify user identity and ensure the integrity of the testing process. The TruTouch 2500 is targeted for commercialization in workplace as a preliminary screening tool for fit-for-duty applications. TruTouch systems can be seamlessly incorporated into workflow and reporting tools allow management of networked and multisite installations. The resulting reports generate integrated testing records that are not readily available from other alcohol testing approaches. During the last four years, TruTouch devices have completed more than 750,000 tests for customers. Published peer-reviewed clinical studies show a 96% correlation to forensic grade blood test results which are also as accurate as conventional, evidentiary grade systems such as breathalyzers.

For more information please visit www.trutouchtechnologies.com.
(c)2011-2020 by Massinvestor, Inc. For contact info, please check out our about page.
>> Click here for in-depth research on 9,000 startups and 5,000 VC investors


Featured Reading