SIX acquires stake in digital ID startup PXL Vision

SIX acquires stake in digital ID startup PXL Vision

SIX FinTech Ventures has acquired a stake in Zurich-based digital identity verification and customer onboarding start-up PXL Vision.

A spin-off of the Swiss Federal Institute of Technology (ETH), PXL was founded by former employees of Dacuda AG, a computer vision company that sold its 3D division to Magic Leap at the beginning of 2017.

The company's digital alter ego (daego) platform has since been deployed across multiple industries including telecommunication, financial services, travel & transportation and government. SwissSign is also working with Daego for user verification as part of the SwissID.

“Together with PXL Vision, we can now not only support an already experienced start-up team, but also a technology that harbours huge potential and that encapsulates our vision of a digitised financial center,” says Andreas Iten, head SIX FinTech Ventures. “The acceptance of digitized business models and solutions is crucial for Switzerland as a financial centre.”

PXL is the third graduate from the Zurich-based F10 incubator and accelerator to receive a capital injection from SIX's CHF50 million corporate venture fund, following previous tie ups with vestr and Shift Cryptosecurity.

Aside from lead investor SIX, other investors in PXL's seven-figure pre-seed round include Zürcher Kantonalbank and a private business angel.

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