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IriTech ‘open for exploration’ via investment or sale

IriTech ‘open for exploration’ via investment or sale

IriTech confirms that it is seeking partnership or investment for its hardware and software products. The U.S.-based firm develops iris biometric solutions used in contexts spanning humanitarian settings and vehicles to fintech, biometric data hubs, virtual reality and the metaverse.

CEO Dr. Daehoon Kim confirmed to Biometric Update that his firm was considering options after being approached by the M&A agency ProNova Partners, in response to questions about a notice from the agency.

The company’s hardware is enabling high-security data storage such as crypto wallets, and its algorithms can allow eye tracking cameras in AR/VR headsets to identify the user, avoiding clumsy password input via a pointer or handset. Beyond integrations with fintech in India, the firm’s hardware has been implemented in the Philippines national ID system via integrator Thales.

“There are so many applications possible, that I am going to open my scope to explore all these kinds of things. That is the reason why I want to have a big partnership,” Dr. Kim told Biometric Update, adding that this openness would also extend to a sale of the business.

IriTech is looking ahead to new technologies for Web3.0 devices such as smartphones and smart city integration and digital signatures.

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