ALiCE Biometrics plans international expansion after €1.5M funding round
Gradiant spin-off ALiCE Biometrics has closed a €1.5 million (roughly US$1.8 million) investment round to fund the international development and expansion of its online identity verification technology, StartupsReal reports.
ALiCE provides photo ID document and selfie biometrics checks with passive liveness for know your customer (KYC) and anti money-laundering (AML) compliance from a mobile device or computer. The company’s technology checks the authenticity of driver’s licenses or passports, confirms the identity of the individual with facial authentication, detects identity theft and mitigates against identity fraud in verticals like banking, telecommunications and online gambling according to the report.
The funding round included participation from new investors Mundi Ventures, XesGalicia, which is an agency of the Spanish region of Galicia’s regional government, and Vigo Activo. They were joined by previous investors ENISA (the EU’s cybersecurity agency), Igape, and CDTi. The participation of Mundi Ventures expands the company’s shareholder group internationally, and gives ALiCE Biometrics access to a network with a presence in 50 countries.
The Galician Innovation Agency (GAIN) has also invested in the technology through its Ignicia program.