ECG biometric authentication business B-Secur has secured £3.5m (€3.9m) in early-stage funding from a syndicate of British and Irish investors, including Accelerated Digital Ventures (ADV) and Kernel Capital.
B-Secur has developed a patented biometric technology that uses an individual’s unique heartbeat pattern, known as an electrocardiogram (ECG), which quickly and securely authenticates identity.
The Belfast-headquartered company said the technology marks the next generation in biometrics, moving beyond first generation modalities of fingerprint, iris or voice.
As an internal biometric, ECG authentication can minimise hacking or spoofing risks.
B-Secur is currently working in the UK, Ireland and US across many sectors including automotive, financial services, access control, smart cities and buildings, with the semiconductor industry at the core of its technology development process.
The investment comprises of £1.5M from Accelerated Digital Ventures (ADV), £750,000 from the Bank of Ireland Kernel Capital Growth Fund (NI), with the remainder provided by private investors.
Kernel Capital is the manager of the Bank of Ireland Kernel Capital Growth Funds with investors including Bank of Ireland; Invest NI and New York State Common Retirement Fund, and is the largest private sector source of equity finance for technology companies on the island of Ireland.
B-Secur CEO Alan Foreman said the company is "thrilled to gain the backing of ADV, Kernel and others which will drive us to grow significantly in the next 12 months and continue to invest in world-class science and engineering in Northern Ireland and beyond".