Wales-based fingerprint biometrics startup Touch Biometrix has received £2 million in funding from UK-based Deepbridge Capital, a VC firm focused on the technology, life sciences, and renewable energy sectors.
In announcing the investment, Touch Biometrix indicated that it follows seed funding of £150,000 provided last year. The company says it will help to fuel the further development of its fingerprint sensor technology, with Touch Biometrix aiming to establish a solution priced at less than $1 per sensor by the end of this year, and to move on to “scaled production” in early 2020.
The company adds that its solution will offer a “more intuitive” user experience when integrated into consumer devices, and “will also offer unbreakable security”.
“We are delighted to continue our support for Touch Biometrix at what is an exciting time for the biometric industry,” commented Deepbridge Capital Managing Partner Ian Warwick in a statement. “We understand there is an increasing need for secure user authentication technology and we believe Touch Biometrix has the capability to move quickly in this market.”
The funding comes after Touch Biometrix’s announcement last summer that it had acquired funding from SMARTCymru, a multi-million dollar investment program backed by the European Union.
April 15, 2019 – by Alex Perala