25th July 2017:Kernel Capital are please to confirm that B-Secur Ltd, a Belfast-based ECG biometric authentication company has raised £3.5m. The investment comprises of £1.5m from Accelerated Digital Ventures (ADV), £750k from The Bank of Ireland Kernel Capital Growth Fund (NI), with the remainder provided by Private Investors.
B-Secur has developed a patented biometric technology that uses an individual’s unique heartbeat pattern, known as electrocardiogram (ECG), to quickly and securely authenticate identity. This 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 for greater security and convenience.
The company is focused on the global ECG biometrics market which is expected to be worth $2bn by 2021. B-Secur is currently working in the UK, Ireland and US to respond to customers across many sectors including automotive, financial services, access control, smart cities and buildings, and healthcare, with the semiconductor industry at the core of its technology development process.
The company is headquartered in Belfast and has a strong partnership with Queen’s University Belfast’s CSIT department.
The Bank of Ireland Kernel Capital Growth Fund (NI) was designed to help SMEs in Northern Ireland to accelerate their growth. Invest Northern Ireland has committed £15m of funding to this fund which is part financed by the European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020.
“B-Secur has a strong management and technical team which has developed a new high performance, patent-protected, heartbeat signature-based biometric authentication product. With Northern Ireland rapidly becoming a key location on the global cybersecurity stage, we believe B-Secur will play a significant role in the global development of next generation security systems as the company gains market share in financial services, access control and beyond.”
Jayne Brady, Partner, Kernel Capital
“This announcement underscores the growing demand from organisations to provide better security to their customers in this digital world, amid an escalation in high-profile cyber-attacks. I believe that our ECG authentication technology is crucial to supporting this global challenge.
“We are 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.”
Alan Foreman, CEO, B-Secur
“In a world where security and personal identity are central to accessing a range of online digital services, B-Secur’s technology harnesses the unique power of the human heartbeat to unlock everything from finance to healthcare, from cars to buildings. ADV is excited to be supporting B-Secur as they deploy their market-leading patented software across all forms of devices including mobile and wearables.”
Michael Dimelow, Head of Investment, Accelerated Digital Ventures