The University of Memphis Research Foundation (UMRF) has announced they have licensed their patented multi-factor authentication (MFA) system to i2Chain, a Silicon Valley cybersecurity startup. While most MFA methods require the user to provide at least two differing elements to verify their identity — often a combination of a PIN, password, smart card, or biometrics…
The Israeli startup Viisights has received $10 million in a round of Series-A funding led by Canada’s Awz Ventures. Viisights is a behavioral recognition specialist and the developer of the Viisights Wise solution, which uses AI to analyze video surveillance footage in real time. Unlike traditional object recognition platforms that can only identify discreet objects,…
The biometrics industry spans across a wide range of technologies and sectors, and this week’s roundup of FindBiometrics’ top news stories runs the gamut. First up is news about an extra-early round of funding for India-based digital identity startup Syntizen Technologies. The company didn’t disclose how much money it brought in through the funding round,…
The digital identity startup Syntizen Technologies has completed a successful Pre-Series A funding round, receiving an undisclosed amount of money from Mastercard and ACPL, a biometric solutions provider. Syntizen is based in Hyderabad, India, and plans to use the funds to improve its products and fuel its domestic and global expansion. “Mastercard’s investment is…
A new Y Combinator startup called Traces AI is working on a surveillance alternative to facial recognition. The computer vision solution tracks people moving through crowds based on a number of other visual factors. “It’s a combination of different parameters,” explained Traces AI Co-Founder Veronika Yurchuk. “We can use your hair style, whether you have…
Yoti has secured £8 million in new equity investment in the company’s third successful funding round since its debut in 2017. The new funds will be invested in product development and expansion as the company searches for new partners. “Over the past few years we have invested about £65 million to develop our privacy-preserving identity…
Socure is increasing its presence in Chennai, India. The New York-based identity verification startup first opened its Chennai office in 2017, and is looking to double its headcount from 15 to 30 by the end of 2019, before doubling again to 60 by 2021. According to Socure CEO Tom Thimot, the Chennai branch will be…
“Alcatraz AI has indicated that it will use its new capital to further refine its computer vision technology…” Alcatraz AI, a biometric AI startup founded by a former Apple engineer, has brought in $6 million in venture capital through a new funding round. The company specializes in 3D facial recognition for access control. It was…
The Chinese tech startup Megvii is rumored to be planning an initial public offering for later in the year. The South China Morning Post reports that the IPO could take place in either Hong Kong or New York, although Hong Kong is considered to be more likely at this time. Megvii is hoping to raise…
“The Deep Glint investment is valued at $5 million, and reflects a broader trend as the automotive sector increasingly embraces AI and biometric technologies. “ Hyundai Mobis has taken a big stake in China-based computer vision specialist Deep Glint, signalling the growing importance of AI and biometrics in the automotive sector. Deep Glint specializes in…
AIStorm has landed $13.2 million in Series A funding to develop a next-generation semiconductor for future IoT devices. The new semiconductor will reportedly allow users to process analog sensor data more quickly and at a fraction of the current cost. According to AIStorm, the challenge is that raw data needs to be converted to a…
“The platform’s tools will allow for the development of computer vision systems that can detect, classify, count, and track objects, and that can perform facial recognition.” San Diego-based computer vision startup AlwaysAI has brought in $4 million in funding through a series-A investment round, the company has announced. The round was led by BRV, a…
A biometrics developer based in Newcastle, England, has received £200k in funding, according to a Bdaily article by Jamie Hardesty. The firm, IEvo, worked with NEL Fund Managers to secure the money from the Finance For Business North East Growth Fund. According to the article, IEvo develops fingerprint biometric technology for partner companies, with integrations in…
A new startup is shopping its cardiac biometrics technology, and appears to be on pretty solid footing, according to a profile by John Kennedy in Silicon Republic. The Ireland-based B-Secur boasts of advanced ECG technology and solid financial backing. The company’s executives are keen to point out the difficulty of spoofing when it comes to…