InnoCapital the corporate venture vehicle of Banco Sabadell's InnoCell digital hub has led a EUR1 million investment round in voice authentication startup Biometric Vox.
The investment is the first by the bank's digital hub in a home-grown startup, after its initial £1.5 million co-led investment in British outfit Bud.
InnoCapital was created to carry out digital and technological investments in businesses in their seed stages, A and B series, relating to areas of strategic interest for the Spanish bank.
Established in 2015, Biometric Vox offers multiple voice biometric products, each created using machine learning techniques for deployment in different contexts and customer conversations.
Julio Martínez, executive director of InnoCells, comments: “The solutions which Biometric Vox offers satisfy the increasing demand for personalisation, immediacy and security in the consumption of financial and non-financial services. At InnoCells we are committed to startups such as Biometric Vox, which are pursuing technology and digital leadership, and work with a strategic vision of a business model which is based on clear market trends.”
InnoCapital complements the bank's other startup investment funds, including BStartup10 for early-stage start-ups and Sabadell Venture Capital for capital investments and Venture Debt. In total, the bank has allocated more than EUR140 million to the 50 startups that comprise its various investment portfolios.