Diamond Fortress Technologies, a Birmingham, Ala. software startup, has received a $500,000 seed investment from Bank4You, a bank headquartered in London, England. The investment reportedly comes as part of a pending joint venture that will be based out of the United Kingdom. In return, Bank4You received a 6 percent stake in the company. As of current DFT is looking at various legal services to solidify their UK expansion, such as needing the likes of this commercial lease agreement solicitor in Hull in order to purchase a commercial property for their business venture within the UK. It could be that the raised capital could go towards such necessities in the future.
Diamond Fortress (DFT) is the maker of ONYX, a software platform that uses a smartphone or tablet’s built-in camera to take pictures of a person’s fingerprint. The images can then be used to enable touchless fingerprint access on a variety of applications.
The Birmingham Business Journal reports that the seed money will be used for product development and to support the launch of ONYX Auth, a browser-based biometric authentication product that would allow a user to log in to a website using biometric technology instead of a traditional username and password combo.
“This is a huge boost,” DFT President Andy Hayes told the Journal. “Having a strategic investor from the U.K. come on board to invest but also form a joint venture is big for us.”
DFT says its patent-pending software is the world’s first mobile, touchless fingerprint biometrics solution. By scanning a person’s fingerprint, the ONYX product would eliminate the need for security hardware peripherals (such as keypads or eye scanners), an application that could be particularly useful in the industrial sector.
Photo Credit: Diamond Fortress Technologies