VeryAI raises $10M for palm biometric platform aimed at AI-driven fraud

VeryAI has raised $10 million in seed funding to develop its “Proof of Reality” platform and launch a palm biometric identity verification system aimed at addressing the growing threat of deepfakes and AI-generated identities across financial platforms and online services.

The round was led by Polychain Capital, with participation from Berggruen Institute and Anagram.

The biometrics startup says its software-based palm verification runs on smartphones without dedicated hardware. According to the company, the system has a false acceptance rate of 1 in 10 million when verifying a single hand, improving to 1 in 100 trillion when both hands are used.

VeryAI plans to market the platform to fintech firms, crypto exchanges, government agencies and social platforms that require large-scale identity verification. The company charges partners based on verification volume.

CEO Zach Meltzer said the company aims to provide stronger identity verification tools as AI-driven fraud becomes more prevalent.

“Deepfakes and synthetic content are exposing weaknesses in current authentication systems,” Meltzer said. “VeryAI is building identity verification technology designed for this new threat environment.”

The company says its system does not store palm images. Instead, it generates irreversible biometric templates and non-traceable identifiers intended to reduce privacy risks in the event of data breaches.

VeryAI is also working with Northwestern University to study how people detect deepfakes and to apply those findings to future “Proof of Reality” products.

The funding will be used to expand the platform and develop additional tools to distinguish synthetic identities and AI-generated media from verified human users.

Palm biometrics is gaining traction in sectors such as healthcare, payments and blockchain-based identity systems, as Biometric Update has previously reported.

Article Topics

biometric authentication  |  biometric matching  |  funding  |  identity verification  |  palm biometrics  |  VeryAI