iNUI Studio SA, a Luxembourg-based software company, announced on Wednesday that it had just closed a fundraising round, which it deems essential for its expansion; the company also appointed new experts to its board.
In order to finance an ambitious international expansion plan, iNUI Studio (owner of the trademarks and patents related to the AIR TOUCH touchless interaction technology) has decided to modify its capital structure and bring in new capital from Luxembourg.
The new executive board will be multidisciplinary and composed of:
- Olivier Raulot, founder and inventor of the AIR TOUCH technology, and majority shareholder;
- Olivier Keiser, business leader and former member of the executive committee of SONGWON Industrial Group in South Korea (2011-2020);
- Daniel Schneider, co-founder of Tenzing Partners, with experience in fundraising;
- Fabien Simonin, expert in corporate finance.
The transaction, which took place on 1 October 2021, was managed by the mergers and acquisitions advisory firm Tenzing Partners with the support of Luxembourg law firm Wildgen for the legal aspects.
The new business model will be mainly deployed around the patented AIR TOUCH touchless technology. It will be based on two axes:
- The production and distribution of the AIRxTOUCH KIOSK, produced by the company itself and distributed in partnership with Samsung;
- The sale of production licenses to kiosk manufacturers, who will produce their own AIR TOUCH devices from the components provided by iNUI Studio.
In addition to its research and development engineering branch, the company will strengthen its software development and user experience department.
Currently offering one of the best touchless user experiences on the market, the ambition of iNUI Studio is to become the world leader in touchless digital signage within three years. The company also aims to replace the existing touch terminals by AIR TOUCH displays in all public places, such as train stations, restaurants, tourist offices, shops and reception areas.
The development plan is already in action. In January 2022, the company will announce the implementation of its touchless kiosk AIRxTOUCH KIOSK in three sectors, transport, catering and tourism, for three major clients in Canada, Norway and Luxembourg. These three projects are currently in an implementation phase, under confidentiality agreements.
Also in January, iNUI Studio will announce the signature of its first production licence agreement with a company specialised in the production of interactive kiosks for the fast food market in Europe. This strategy will be based on its historical partnership with Samsung, as well as on the recent partnership signed with INTEL, which should lead to co-marketing around the future AIR TOUCH products under development and which will be unveiled in 2022.
Moreover, following the successful closure of the current fundraising round, the company has chosen a new and more spacious headquarters, which is considered better adapted to the current growing production and logistic needs of AIR TOUCH devices. The company is now operating out of the SISA Foetz SA facilities; previously, it was based at the Technoport in Foetz.
To support the new business model, a sales team will be created. This team will be in charge of partnerships with distributors and manufacturers who wish to integrate AIR TOUCH technology in their kiosks or interactive desks. New partnerships will also be announced soon. The company also aims to be present in North America by the end of 2022, both from a commercial and device manufacturing point of view. To finance this plan, the company will reopen its capital in 2022 to allow the entry of a major investor.