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.
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