December 10, 2013 -
Zwipe has raised an additional $3.5 million in Series A funding. Of the total amount, $2.5 million was invested through a private placement and the remaining $1 million was a grant given by the Government of Norway.
Having recently launched its Zwipe Access biometric card, the company says this new funding will be used to both expand the sales organization and to increase investment in technology development and application.
“This additional funding further solidifies Zwipe’s vision of our product, our technology and the market,” Kim Kristian Humborstad, CEO of Zwipe said. “Because the Zwipe Access product is the only card on the market that protects user data by keeping biometric information on the card itself, not a remote server, our product’s potential applications in the consumer market are nearly limitless.”
In addition to the new funding, Clas Thelin has been appointed as new Chairman of the Board of Directors of Zwipe. Currently the Managing Partner of Candeo Group LLC, Thelin is formerly the President and CEO of ASSA ABLOY Americas, and former President and CEO of Loomis.
“Clas brings a wealth of both industry and market experience to the Board,” Humborstad said. “We believe he will make an extraordinary addition to our already very strong board.”
Reported previously, Zwipe’s recently-launched biometric access card featuers fingerprint touch sensors from Fingerprint Cards.