Heartbeat authentication firm Bionym has raised $14 million on the back of a pre-launch order book for 10,000 of its wearable bracelets.
The latest funding round for the Canadian startup included high-profile support from Relay Ventures, MasterCard, Export Development Canada, Ignition Partners and Salesforce Ventures.
The Nymi bracelet is promising to make passwords, keys and wallets relics of the past by authenticating users through their heartbeat.
The Nymi bracelet has an embedded sensor which recognises the wearer's unique electrocardiogram (ECG) and communicates their identity to their devices - be that their computer, car or TV - using Bluetooth.
The system offers three-factor security because it requires a personalised bracelet, the owner's heartbeat and a smartphone registered to the Nymi app.
Karl Martin, CEO and founder of Bionym, says: "We're establishing the Nymi as the de facto platform for persistent, trusted identity, and this round of financing is providing us with the resources needed to bring the platform to market."
In November, the firm released its SDK documentation and online forums to a 6000-strong developer community. The first Nymis are expected to roll off the production line later this year