JENETRIC Enters Third Funding Round, Prepares US Expansion

“The funds should help JENETRIC to establish a US subsidiary in the year to come…”

Germany-based fingerprint biometrics company JENETRIC is getting ready to enter a third round of funding, the company has announced.

JENETRIC Enters Third Funding Round, Prepares to Launch US SubsidiaryTo plan this round, the company teamed up with VENTRADA Corporate Finance GmbH. Echoing its last funding round a year ago, it has once again roped in gm|t, the state of Thuringia’s investment company, and High-Tech Gründerfonds (HTGF); and it has acquired a new angel investor, Dr. Uwe Trautman.

Commenting in a statement, bm|t investment manager Karin Rabe lauded the company for its strategy “focused on revenue and extension of the product portfolio.” Trautman, meanwhile, is “convinced that the innovative products will not only become globally compatible but also gain a leading market position.”

The funds should help JENETRIC to establish a US subsidiary in the year to come, where it aims to “hit the ground running”, according to CEO Roberto Wolfer.

“The U.S.A. are pioneers and one of the most important markets for biometrics,” said Wolfer. “For us the proximity to the critical multipliers of the industry is essential. This is the only way we can ensure the requirements for future biometric applications are captured in time and hence implemented in our products.”

Furthermore, according to a statement from JENETRIC, the company will expand its product range next year.

December 15, 2016 – by Alex Perala