The startup raised the funds from RTP Ventures, Boldstart Ventures and Mesh Ventures. The funding round comes two years after the startup closed a USD 350,000 private investment, while at the time pitching itself as a means to secure Bitcoin transactions with the help of a fingerprint.
According to the company’s representatives, the majority of the funds will be used to build out the startup’s development team, based primarily in New York.
The concept of using biometric signatures to add an additional security layer for transactions involving Bitcoin or other kinds of digital, blockchain-based assets has attracted interest in the past.
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