Smart Eye Raises Eye Tracking Funds

Swedish eye tracking technology firm Smart Eye has secured a SEK 25m investment (c.EUR 2.9m), which it will use for further product development and market expansion.

The Göteborg-based firm develops systems which use multiple cameras to track the movement and direction of gaze in real time. Its Smart Eye Pro head mounted system measures eye movements across newspapers / adverts, and interaction with handheld devices, and the company has also developed a product called Smart Eye Anti Sleep, to monitor motorists' alertness while driving.

This round of new funding comes from state-owned venture capital company Fouriertransform AB, and equates to a 15% share in Smart Eye.

CEO Martin Krantz (pictured) comments: 'The company management saw the need for a financial partner in order to meet the strong growing international demand and to allow us to make the strategic investments that are now required. For Smart Eye, Fouriertransform is an ideal shareholder. Its focus on the automotive industry and long-term approach were crucial factors in our choice of investor. We are looking forward to our future partnership.'

Web site: www.smarteye.se .