Tobii Technology scoops €16m funding

SWEDEN-- Eye tracking hardware and software supplier Tobii Technology has secured €16m in funding from a trio of venture capitalists.

The money from Amadeus Capital Partners, Northzone Ventures and Investor Growth Capital will be used to fund Tobii's expansion in its existing markets and to develop new applications.

The firm's hardware is already used for academic and market research activities and usability testing, but it now plans to develop products for gaming, medical diagnostics and to combat drowsiness when driving.

Tobii Technology vice president John Elvesjö said: “Tobii is growing rapidly and profitably, but we need to harness our ambition to the experience of international investors with track records in building successful global technology companies, which this funding round enables us to do.”

The firm's products are used in several countries, including the UK where eye tracking agency Think Eye Tracking, uses Tobii products to test adverts and for other eye tracking activities. This week, the firm carried out a test on Google's new Chrome TV ad and found it to have “one of the highest levels of engagement with the brand logo in advertising campaigns ever previously measured”.

In South Africa, Tobii Technology is being used by Sports Eye Tracking, a service offered by Havas Sports and Entertainment, to assess how much attention viewers give sponsorship during televised sporting events.

Author: James Verrinder