FB pixel

Idex raises $11M for commercialization, partners to speed biometric card deployments

Idex raises $11M for commercialization, partners to speed biometric card deployments
 

Fingerprint biometrics firm Idex Biometrics has raised NOK 125 million ($11 million) via the sale of 147 million new shares at NOK 0.85 ($.077) per share.

The Norwegian firm said it intends to use the proceeds to accelerate its product commercialization, working capital and general corporate purposes.

In addition, Idex and French card maker SELP have partnered to accelerate the deployment of biometric smart cards.

SELP makes more than 350 million a year in 60 countries across Europe, Central America, Africa, the Middle East, and India.

Deals have been piling up for the firm over the past few months.

Earlier this week Idex unveiled plans to move into Bangladesh, with 170 million residents, via a partnership with payments systems integrator doelPay. Idex says it is working with three of Bangladesh’s largest banks.

DoelPay says it expects to have biometric payment cards for consumers in the region in the fourth quarter.

In another move that could improve its footprint in Asia, the firm cut another deal earlier this May with Malaysia-based card software maker MCS Microsystems.

The deal will reportedly put Idex fingerprint sensors for biometric cards used in applications outside of payments, potentially civil identification and health care.

Article Topics

 |   |   |   |   | 

Latest Biometrics News

 

Identity is a zero-trust hard requirement for AI agents

By Titus Capilnean, VP of Go-to-Market at Civic By 2025, approximately 85% of enterprises are expected to implement AI agents,…

 

Scottish public split over use of live facial recognition by Police Scotland

The Scottish public are split over the use of live facial recognition (LFR) technology by police in Scotland. LFR uses…

 

Biometric verification securing, slowing cash transfer program in Nigeria

The Nigerian government is handing out cash to 2.3 million households under a scheme that relies on biometric verification. It’s…

 

African Digital Identity Hackathon winners present diverse ideas: ID4Africa 2025

The winners of the African Digital Identity Hackathon, organized by Carnegie Mellon University Africa’s Upanzi Network, took the stage during…

 

Police use of facial recognition continues to raise public concerns

Should police use facial recognition technology? Two-thirds of Milwaukee’s Common Council says no. An article in the Milwaukee Journal-Sentinel says…

 

EU calls for public feedback on European Business Wallet

The European Commission has issued a call for feedback on the EU Business Wallet, a digital identity wallet intended for…

Comments

Leave a Reply

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

Biometric Market Analysis

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events