FB pixel

Worldcoin raising $100M for biometric crypto, Advance.AI parent company considers fundraise

Categories Biometrics News  |  Trade Notes
Worldcoin raising $100M for biometric crypto, Advance.AI parent company considers fundraise

Iris biometric-based cryptocurrency Worldcoin is reportedly set to raise $100 million through the sale of its tokens, while Advance.AI’s parent company Advance Intelligence Group is in preliminary talks with financers to raise $300 million.

Cryptocurrency secured with iris biometrics valued at $3B

Worldcoin is selling cryptocurrency tokens to investors for $100 million, which would value the total pool of tokens at $3 billion, according to The Information.

The tech news site reports that venture capital firms Andreessen Horowitz, a previous backer, and Khosla Ventures are planned as investors in the $100 million fundraising. In October 2021, Worldcoin was valued at $1 billion after substantial investments from Andreessen Horowitz, Coinbase, and LinkedIn co-Founder Reid Hoffman.

Alex Blania, co-founder and CEO of Worldcoin, is quoted as saying that the decision is the result of “very aggressive testing” for the start-up, which increased the size of its employees from 10 to 100 in 2021, and has collected iris biometrics from about 500,000 people so far.

“You’re still talking to a Series A company, not an Uber,” says Blania. “Things are not perfect.”

Advance.AI parent company mulls $300M funding round

Advance Intelligence Group, the umbrella for a range of AI-driven businesses in digital identity and banking, is considering a $300 million fundraising round, according to Bloomberg.

The Singapore startup is in preliminary talks that may not continue, according to sources cited by the news agency.

Advance Intelligence includes Advance.AI, a biometric fraud prevention provider. No figure was provided for how much of the prospective $300 million funding would be allocated to Advance.AI.

Advance Intelligence raised over $400 million in series D round financing led by SoftBank Vision Fund 2 in 2021, and in September 2021, its biometrics subsidiary raised $200 million at a valuation of a billion dollars, granting it unicorn status.

Article Topics

 |   |   |   |   |   |   | 

Latest Biometrics News


Michigan City Council orders comprehensive facial recognition policy for local police

In a move aimed at safeguarding civil liberties, the City Council of Ann Arbor in Michigan has taken a decisive…


Video deepfake fraud threat is real, helplessness is not: ID R&D webinar

Deepfakes have become a cause for common concern, with articles and viral posts warning of their power to deceive. Real-life…


Sumsub expands data sources to improve KYB

Sumsub has provided upgrades to its Business Verification platform aimed at tackling the common challenges that businesses encounter during the…


DHS reinterprets foreign worker fees to fund biometric border system

The U.S. Department of Homeland Security has proposed a way to fund its Biometric Entry-Exit program by changing the fee…


NIST adds flexibility, digital format to security requirements for federal contractors

The U.S. National Institute of Standards and Technology has updated its guidance for how businesses working with the federal government…


iOS 18 APIs suggest more digital ID integrations coming to Apple Wallet

A set of APIs bundled with iOS 18 indicates that more digital IDs may soon be integrated with Apple Wallet….


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events