
Biowatch
Transforms your watch into a secure source of authentication by looking at your unique wrist vein pattern.
Date | Investors | Amount | Round |
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- | investor investor investor investor investor | €0.0 | round |
investor | €0.0 | round | |
investor | €0.0 | round | |
investor | €0.0 | round | |
investor | €0.0 | round | |
investor investor investor | €0.0 | round | |
investor | €0.0 | round | |
€50.0k | Grant | ||
Total Funding | 000k |
USD | 2015 | 2016 | 2017 | 2018 |
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Revenues | 0000 | 0000 | 0000 | 0000 |
% growth | - | 1 % | (8 %) | 4 % |
EBITDA | 0000 | 0000 | 0000 | 0000 |
Profit | 0000 | 0000 | 0000 | 0000 |
EV | 0000 | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
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Biowatch SA, a Swiss company incorporated in February 2015, operates at the intersection of biometrics, wearables, and the Internet of Things. The company is developing a wearable electronic biometric module designed to provide secure and seamless authentication for individuals and industries.
The founding story connects a seasoned inventor with a young researcher. Joe Rice, a 30-year veteran of Kodak, patented the concept of using vein patterns for biometric identification back in 1985 after his personal and financial information was compromised. Decades later, in 2014, Matthias Vanoni, a PhD student at the Idiap Biometric Lab, came across Rice's patent. Recognizing its commercial potential, Vanoni contacted Rice, leading to their collaboration and the establishment of Biowatch SA. Vanoni, with a decade-long background in biometrics and experience in the French military academy, serves as CEO, while Rice is the chairman and co-inventor of the new patents.
The core product is a miniaturized and modular wrist vein scanner that can be integrated into any existing watch, smartband, or smartwatch. This module transforms the user's watch into a secure identification tool by recognizing the unique pattern of their wrist veins. The technology aims to replace traditional authentication methods like keys, cards, passwords, and PINs. Once activated by the legitimate user, the module provides continuous authentication as long as the device is worn, utilizing NFC and Bluetooth technology. The target markets include the automotive, banking, access control, and luxury watch industries.
The company has achieved notable milestones, including securing a CHF 1.2 million seed funding round in late 2016. This financing was led by entrepreneur Patrick Delarive and included participation from Polytech Ecosystem Ventures and SICPA Finance. The funds were allocated to expand the engineering team and produce the first series of pre-production products for clients in sectors like access control, automotive, and banking. By June 2017, the company had a fully functioning prototype. Another source states the company has raised a total of $797K over four seed rounds, with the largest being $401K in June 2021.
Keywords: biometric authentication, wearable technology, wrist vein recognition, IoT security, continuous authentication, access control solutions, secure payments, digital identity, biometric module, NFC authentication, Bluetooth security, password replacement, smart watch technology, Matthias Vanoni, Joe Rice