Biometric smart gun maker raises $14 million and plans hiring spree
A major investment in biometric guns has been unveiled, with Biofire Technologies raising $14 million in a series A funding round, as the company apparently changed the mind of a Founders Fund partner.
Founders Fund led the funding round, with 10X Capital, Gaingels, Will Manidis, existing investors Draper Associates, Structure Capital, Service Provider Capital, and Gavin de Becker & Associates participating.
Gun deaths recently became the most common cause of death among American children and teens, according to the announcement, even as firearm safety has been left unaddressed.
The Biofire Smart Gun automatically unlocks and relocks as it is handled by its owner and put down. The company is preparing for a commercial launch in 2023, with the support of special forces, law enforcement and private security partners.
“I’m previously on record saying that Smart Gun technology is uninvestable – that it would take ‘multiple miracles’ to bring this product to market,” says Founder Fund Partner Trae Stephens. “The Biofire team has changed my mind. We need novel solutions to address firearm violence, and their technology has the potential to transform firearm safety.”
Founder and CEO Kai Kloepfer says in the announcement that Biofire “went back to the drawing board” to create a highly reliable biometric handgun with state-of-the-art authentication technology.
Biofire is now hiring for its engineering, customer, and operations teams, writes Kloepfer.
The company previously raised $17 million in seed funding from numerous backers.