Nov 6, 2020

ALiCE Biometrics has obtained the support of Mundi Ventures, an international venture capital fund, XesGalicia, an agency of the regional government of Galicia in Spain, and Vigo Activo, to continue the international development and expansion of its automatic online identity verification tool. ALiCE Biometrics is an spin-off of Gradiant, the Galician R&D Center in Advanced Telecommunications. The technology of the company checks the identity of a person in real time, comparing a live image from the camera of a mobile phone or computer with an ID document or passport. Using the latest passive liveness detection technology, ALiCE can also detect cases of identity theft. In addition, ALiCE verifies that the document presented has not been falsified or forged, allowing the necessary verification in online processes and ensuring that the documentation is genuine and corresponds to the person doing the operation. The technology has applications optimizing onboarding, KYC and AML processes and mitigating identity fraud in online transaction environments such as banking, telecommunications and gambling. The company leverages over ten years of research, development and marketing by Gradiant. In 2016 this technology received one of the greatest investments from the Ignicia program of the Galician Innovation Agency (GAIN), an agency of the regional government of Galicia, providing the funding to reach technological maturity and its market release. This support was instrumental to establish ALiCE Biometrics as the leader in verifications for this type of environment. As of this year, the international fund Mundi Ventures enters as lead investor, with participation from XesGalicia and Vigo Activo to support this technological spin-off. The entry of these new investors has been accompanied by financing provided by ENISA, IGAPE and CDTi. As a result, ALiCE Biometrics will have an injection of €1.5 million that will accelerate the expansion to global customers with the support from top professionals in technical and business areas. Technology ‘made in Galicia’ for the international market ALiCE Biometrics expands its shareholding to the international arena with the entry of Mundi Ventures, which has operational offices in London, New York, Seattle, Barcelona and Madrid. The investment fund makes its network, with presence in more than 50 cities worldwide, available to the Galician spin-off. Mundi Ventures focuses its investments on technology companies that develop unique solutions, and it’s a shareholder of leading American and European companies. From the beginning, ALiCE Biometrics has worked with main companies in the financial sector, as well as with companies in the telecommunications, insurance, gambling and betting industries. ALiCE uses Artificial Intelligence to provide highly reliable identity verification and the best online user experience, allowing the automatic incorporation of new clients while complying with the KYC/AML legislation and minimizing identity fraud.