Daily News: July 31, 2014

Square 1 Bank Provides Novasentis Debt Financing

Square 1 Bank announced that it has provided a $2 million debt facility to new client Novasentis. Proceeds of the credit facility will support the company’s continued growth and operations while it further develops its Electro-Mechanical Polymer (EMP) technology platform.

Novasentis is backed by several prominent institutional investors and the company has set new standards for the world of consumer electronics and medical devices by revolutionizing man-machine interactions through the electricity of touch and the resulting vibro-tactile feedback. The company develops a unique actuator and sensor technology that can be used to animate devices in various industries with localized haptic feedback, sound, and physical surface deformation. The technology is paper-thin, flexible, and is complementary to many new flexible display technologies.

“We are very excited to partner with Novasentis,” said Ron Kundich, senior vice president with Square 1 Bank’s Silicon Valley technology group. “As a leader in the haptics and sensory feedback space, we look forward to supporting Christophe and his top-tier management team as they continue to innovate mobile and wearable products for years to come.”

Novasentis manufactures the thinnest and most flexible electro-mechanical polymer (EMP) haptic actuator and sensor technology.