Valencell, which sells performance biometric sensor technology, has secured $11M millionin Series D financing. The investment is led by GII Tech, a new venture fund being launched by UAE-based financial services company GII, with additional participation from existing investors TDF Ventures and WSJ Joshua Fund.

Valencell says it plans to use the funds to continue its triple-digit growth and accelerate its pioneering innovation in accurate biometric wearable technology. This brings the total amount of funding raised to date to $24.5 million.

“Biometric sensors are becoming must-have features in wearable and hearable devices of all kinds, and the market demand for these devices is skyrocketing,” said Pankaj Gupta, CEO, GII I a statement.

“Valencell has solved many of the most difficult technical challenges in biometric sensors and their continued innovation has established a proven track record of bringing the next generation of biometric innovations to market. This round of funding will help the Valencell team accelerate R&D and growth initiatives to take advantage of this rapidly expanding market.”

In 2015, Valencell saw its second consecutive year of triple-digit growth in its PerformTek biometric sensor technology, with a 133 percent increase in licensees over 2014. Valencell now has over 25 licensees around the world.

Valencell also has 31 granted patents and more than 70 additional patents pending. jIt is also in a patent dispute with wearables giant fitbit, which has just filed a counter suit to Valencell’s January accusation of patent infringement. See our story here: https://wraltechwire.com/fitbit-files-countersuit-against-raleigh-s-valencell/15497766/

Valencell licenses its biometric sensor technology to enable customers to create custom-designed biometric wearable devices.