Jenetric looks to scale-up production, expand to US as it completes third funding round
German biometrics company Jenetric has completed a third investment round.
The firms’ investors, High-Tech Gründerfonds and bm|t, confirmed their continued support as they did in round two. The firm also won a new investment angel, Dr. Uwe Trautmann.
Karin Rabe, investment manager at bm|t commented; “A strategy consequently focused on revenue and extension of the product portfolio has convinced us to once more invest into the powerful Jenetric team.”
The company expects to expand its product range in the coming year and establish a U.S subsidiary. The future LIVETOUCH quattro Mobile will be the first product from the LIVETOUCH product family supporting the mobile enrolment of fingerprints.
“With the additional funds we mainly want to expand our production capacity and hit the ground running in the U.S. market”, said Roberto Wolfer, one of the founders and CEO of Jenetric. “The U.S.A. are pioneers and one of the most important markets for biometrics. For us the proximity to the critical multipliers of the industry is essential. This is the only way we can ensure the requirements for future biometric applications are captured in time and hence implemented in our products.”
“I am looking forward to actively support the development of JENETRIC as new investor,” said Dr. Trautmann. “I am convinced that the innovative products will not only become globally compatible but also gain a leading market position.”