Voatz seeks $10M to grow biometric voting platform adoption
Voatz has raised $1.3 million of an intended $10 million equity funding round from five investors as it seeks to expand adoption of its biometric voting app and web service, the company revealed in an SEC filing.
In a recent update, Voatz said it had made significant strides with its blockchain and biometrics-backed mobile voting platform in 2020, with involvement in 23 elections during the year, serving 1.8 million voters. Just over 200,000 used the Voatz app, while the remaining 1.6 million used its API.
There is no minimum investment by outside investors according to the Form D, and Voatz declined to disclose its revenue range on the document. The funds are not intended to be used to make payments to the company’s principles.
Voting access has become highly politically charged in Voatz’ domestic U.S. market. There are 55 different bills to restrict voting in 24 state legislatures, Boston Business Journal notes.
Voatz raised $7 million from investors including Medici Ventures and Techstars in 2019.