ClassifEye raises $1.2m
19 June 2006 | 1838 views | 0
ClassifEye Ltd. has secured a $1.2M equity investment from Nobska Ventures, a Baltimore, MD based venture capital firm.
ClassifEye's software-only technology enables fingerprint authentication and identification using existing camera phones, for handset security, authentication and non-repudiation of financial transactions, and other identity management applications.
Charlie Moore, Managing Director of Nobska, said, "We believe that ClassifEye can dramatically accelerate expansion of mobile commerce applications in the US and abroad. Our discussions with major carriers and equipment manufacturers confirm that many will strongly prefer ClassifEye's unique technology over more costly, dedicated sensors..., thereby eliminating an existing bottleneck in deployment of biometric enabled handsets and the roll-out of enabled services." ClassifEye's CEO and co-founder, Rami Cohen, said, "We are very excited to be working with Nobska Ventures... They bring a unique combination of hands-on support and a strong network of corporate contacts which will be very valuable as we build our business globally."
ClassifEye will use the capital to port its technology to multiple OS systems for deployment on all major handset platforms, to integrate the technology within existing identity management applications and network architectures, and for initial marketing and sales. Nobska will also help ClassifEye launch its US operations, which will focus on applications development, support, sales and marketing. The company's core technology development will continue in Israel.