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Worries of global recession can’t dim some evidence of growth

Categories Biometrics News  |  Trade Notes
Worries of global recession can’t dim some evidence of growth

An AI research firm in India says it closed a $25 million series B, while an Israeli behavioral biometric firm is adding infrastructure to tackle Asia-Pacific. And a Singapore wallet startup says it has opened a European Union office.

The financing went to Entropik, which uses AI to divine insights in voluminous customer feedback.

Bessemer Venture Partners and SIG Venture Capital led the round. Other participants included Trifecta Capital, Alteria Capital and the Bharat Innovation Fund.

The money might just be catching up to Entropik’s growth. The company claims it has expanded sevenfold in the last two years. During that time, executives moved the firm’s products to the United States, Europe, Southeast Asia and the Middle East. It now plans to expand in the U.S., Europe and Asia.

Speaking of international expansion, BioCatch, based in Israel, has opened an Asia-Pacific headquarters in Australia. It also has an office in Singapore. This is not new earth to turn. The company says four of five “major Australian banks” use its code.

Richard Booth, who will lead the Asia-Pacific campaign, says, “Our investment demonstrates our long-term commitment to helping Asia-Pacific’s financial institutions tackle evolving fraud challenges and will enable them to securely capitalize on digital growth opportunities in an ecosystem where identity, trust, and ease seamlessly coexist.”

BioCatch works in fraud connection as well as behavioral biometric intelligence. Executives claim their behavioral algorithms have detected $1.5 billion in fraud globally.

Meanwhile, wallet startup HolyWally is opening an EU office, in Lisbon, Portugal.

Not coincidentally, HolyWally has been chosen one of the eight companies in the first cohort of a scaling-up program in the Lisboa region of Portugal. The incubator is called the Unicorn Factory.

The company claims its software is so adept that “anyone can build their own digital wallet in a matter of minutes.

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