U.S.-based Russians raise venture capital for biometrics

20 June 2019

ID R&D, a U.S.-based biometric tech company founded by Russian nationals, has raised $5.7m from a group of Russian and Chinese venture capitalists, VC.ru reported. The consortium includes Gagarin Capital, a Russian fund set up by Nikolay Davydov and Mikhail Taver, and China’s GSR Ventures.

The partners do not disclose their investment shares or the start-up’s valuation at the time of the transaction. Gagarin Capital invested in ID R&D in the past and has just increased its shareholding now. GSR Ventures is the new investor.

ID R&D wants to use the new money to hire engineering teams, expand marketing, and boost international sales.

Set up three years ago by Alexey Khitrov and Konstantin Simonchik, the California-headquartered young company is developing technology for biometrics-based user authentication, including user recognition through voice and behavior analysis, and ways of thwarting fraudsters who emulate a user’s voice, face and behavior. ID R&D lists Microsoft, Alibaba and Samsung among its customers.

Source
Related news
The RISING integrator talked about the technology cooperation between India and Russia
Game software working group to be established in Russia — expert
Sberbank has no critical dependencies on Western suppliers — CEO