Security specialist gets €5m funding to expand deployment
Security specialist Intrinsic-ID has received €5million in a new funding round led by Robert Bosch Venture Capital and existing investor Prime Ventures.
"We are proud to welcome RBVC as one of our investors", said Pim Tuyls, Intrinsic-ID's ceo. "With its support, we are excited to move our company to the next level of mass scale deployment of our security IP in large new markets of mobile payments and cloud services by a rapid expansion of our sales, support and engineering teams."
Intrinsic-ID's technology has been licensed to a range of companies and incorporated products ranging from set top boxes to government applications.
"An increasingly connected world demands strict rules for authentication and protection against cloning, counterfeiting and tampering," said Dr Claus Schmidt, RBVC's managing director. "We believe Intrinsic-ID's solution has the characteristics of becoming a key technology for the 'Internet of Things' and is therefore of great strategic importance."
