SigmaSense

From a financial analyst's perspective, SigmaSense presents a compelling case in the semiconductor and human-machine interface (HMI) markets. Founded in 2015 by touchscreen industry veterans Rick Seger and brothers Shawn and Troy Gray, the Austin-based company was established to commercialize a foundational change in sensing technology. The founding team's deep industry experience is a significant asset; Rick Seger previously served as president of N-trig, which was acquired by Microsoft, while Troy Gray was the lead engineer at Carroll Touch, credited with producing the first high-volume touchscreens. This background provided the expertise to address long-standing challenges in the sensor technology field. Initially incorporated as 3AxisData, the company rebranded to SigmaSense in 2018 to better reflect its core technology.

SigmaSense's business is centered on its proprietary software-defined sensing technology, which marks a significant departure from traditional analog sensing methods. The company develops and licenses its semiconductor and software solutions that convert analog signals into continuous, high-signal-to-noise ratio (SNR) digital data streams. This core technology, which they call Capacitive Imaging, utilizes a sigma-delta architecture to directly measure current, achieving what the company claims is 100 to 1,000 times better SNR than legacy touch controllers. This breakthrough allows for sensing through various materials and in noisy environments, opening up applications previously considered impossible. Its business model involves licensing this technology and co-developing products with major industry players. A key example is the partnership with NXP Semiconductors to create next-generation sensing solutions. The company generates revenue through these strategic partnerships and by selling its semiconductor products, such as the SDC100 touch controller.

The company's product portfolio addresses a wide array of markets, including consumer electronics, automotive, digital signage, and industrial applications. For interactive displays, its technology enables ultra-fast multi-user, multi-touch capabilities, pressure sensing, object recognition, and high-hover touchless gestures. This is particularly relevant for creating more responsive digital whiteboards, touchless kiosks, and immersive gaming experiences. Beyond displays, SigmaSense is expanding into battery management with its Electrochemical Impedance Spectroscopy (EIS) solution, which provides real-time, in-situ monitoring of a battery's health and performance. This has significant implications for the electric vehicle and energy storage markets. The company holds a substantial intellectual property portfolio, with over 300 patents, ranking it as a top early-stage semiconductor company in the U.S. by active patents.

SigmaSense has successfully secured significant funding to fuel its growth and product development. It closed a $22 million Series A round in September 2020, led by Foxconn, with participation from strategic investors like Corning, E Ink, and GIS. This was followed by a $24 million Series B round in October 2021. In total, the company has raised over $55 million across several funding rounds, demonstrating strong investor confidence in its technology and market potential. These capital infusions are being used to scale operations, expand its market reach, and accelerate the deployment of its solutions from prototype to high-volume production.

Keywords: software-defined sensing, capacitive imaging, human-machine interface, HMI, touch controller, semiconductor solutions, signal-to-noise ratio, sensor technology, NXP partnership, Foxconn investment, electrochemical impedance spectroscopy, EIS, battery health monitoring, interactive displays, touchless gestures, multi-dimensional sensing, digital signal processing, high-fidelity data, automotive sensing, direct-to-digital sensing, Rick Seger