Keyless secures £1.7m in pre-seed funding led by Gumi Cryptos Capital to advance biometric security.
Gumi Cryptos Capital led the pre-seed round, which included participation from Xpring, LuneX and Blockchain Valley Ventures.
Keyless provides privacy-preserving biometric authentication solutions that protect organisations against fraud and identity theft without storing personal biometric data. The company serves financial institutions, governments, and enterprises globally.
Keyless has secured £1.7m in pre-seed funding in a round led by Gumi Cryptos Capital. The capital will support the ongoing development and deployment of its biometric authentication technology.
Additional participants in the round include Ripple division Xpring, LuneX and Blockchain Valley Ventures. The startup previously spent six months in incubation programmes run by Singapore accelerators LongHash and Cylon.
Keyless applies advanced cryptography to fragment and distribute encrypted biometric data across a network, ensuring complete profiles are never stored on centralised servers.
From the founder
"Due to their complexity, passwords have become the weakest means of authentication. Not only are billions compromised in breaches every year – hackers are also figuring out how to bypass two-factor authentication systems that rely in-part on something the user knows- like passwords and recovery phrases,"
Andrea Carmignani
co-founder and CEO at Keyless
