Biometric News Alert: Delta ID Inc. raises $5M from Intel Capital and others to bring iris recognition to mass market
NEWARK, Calif. - September 4, 2014 (www.investorideas.com newswire) Delta ID Inc., a company focused on bringing secure and convenient biometric authentication to mass-market computing devices, announced today it has closed a $5M Series A financing from Intel Capital and other strategic investors. The financing brings Delta ID's total capital raised to date to $6.1M and will help the company meet rapidly growing demand for its products from some of the world's largest and most prominent device makers.
Delta ID has made remarkable advances in iris recognition technology, making it suitable for mainstream applications and devices. Its patent-pending ActiveIRIS® technology is fundamentally different from other solutions available in the market for iris feature extraction and comparison. ActiveIRIS® offers convenient, fast and reliable iris recognition in conditions and scenarios where users typically use their mobile and PC devices.
"We believe biometrics technology will increasingly become a part of how people interact with personal computing and mobile devices, enabling safer, more secure, and convenient user authentication," said Erik Reid, vice president of Intel's Mobile and Communications Group and general manager of its Tablet Business Unit. "Working with biometric companies such as Delta ID is a key part of Intel's initiatives to eliminate the hassle of passwords. Intel Capital's investment will help accelerate the adoption of iris recognition by the ecosystem of device manufacturers, service providers and users."
Intel Capital's investment was led by Director Arun Chetty.
Instead of considering unproven, esoteric biometric modalities for sole sourcing or ones that work only in controlled environments and pristine conditions, Delta ID took a very mature biometric modality -- the iris, well regarded by academicians, governments, and industry across the world -- and made it utterly convenient, user friendly, and easy to deploy. By offering notably lower failure rates and higher intrusion resistance than other biometrics, Delta ID is making electronic payments and other secure transactions markets more accessible to its customers.
"The addition of Intel Capital as a strategic investor allows us to uniquely influence the future of biometrics technologies in mass-market computing devices, and enable a more secure and convenient way for users to access services through their devices," said Dr. Salil Prabhakar, President and CEO of Delta ID Inc.
About Delta ID
Delta ID was founded in 2011 with the mission to bring secure and convenient biometric authentication to mass market computing devices. Delta ID's ActiveIRIS® technology includes patent-pending software to enable iris recognition using simple hardware that can be easily integrated in mobile and PC devices. Delta ID is based in Newark, California. For more information, please visit http://www.deltaid.com.
About Intel Capital
Intel Capital, Intel's global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11 billion in over 1,370 companies in 56 countries. In that timeframe, 207 portfolio companies have gone public on various exchanges around the world and 354 were acquired or participated in a merger. In 2013, Intel Capital invested US$333 million in 146 investments with approximately 49 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com or follow @Intelcapital.
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