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June 02, 2006
Spanish VoiceTrust Rival Starts Up
For a university spinoff, Spain's Agnitio has managed to stir up the interest of not only the Spanish, but also Chilean, Columbian, German, and Korean police and justice departments.
Not because it is up to something sinister, but because the two year old spinoff of Spain's Universidad Politécnica de Madrid develops voice identification and voice verification software.
Intelligence agencies and police forces are signing up to trial and in some cases buy its voice verification software, which they use in the same way that they use fingerprints to confirm the identity of a suspect.
And in another market, Spain's BBVA, one of the country's largest banks, is using a product from Agnitio to authenitcate employees that have to reset their passwords.
The password reset business puts it in direct competition with VoiceTrust, which so far has been pionnering that market niche. The German startup recently raised a €2M round of finance from some well-known German business angels.
Agnition has raised seed financing from a Spanish venture fund, Webcapital, which belongs to finance group, Riva Y Garcia in Barcelona.
The public sector is one market they could exploit with this tech. Longer term we could imagine a mass market if oice identification and verification solutions get adopted by the likes of online banks and enterprise network access managers.
It would be less cumbersome and cheaper than issuing chipcards and electronic password generators to end users. With that in mind, we expect that we'll be hearing more about Agnitio.
Read - Webcapital Toma participacion (Yahoo Finanzas)
Posted on June 2, 2006 08:00 AM | Posted to Biometrics | News And Updates | Security | Venture Capital | entrepreneurship | Permalink
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