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Bionym Raises $14m for Heartbeat Identification Wristband

Tim Maytom

Bionym_Nymi_colors_stackedToronto-based startup Bionym has raised $14m (£8.6m) in Series A funding to develop its wearable device capable of identifying users through their heartbeat.

The Nymi uses an advanced electrocardiogram (ECG) sensor within a wearable wristband device to detect and generate a profile for the user, and can then store this to match and authenticate the wearer's identity with other devices using wireless communication.

The device, which is the company's only product so far, is likely to be launched later this year, with the investment funding used to get the firm to their shipping date and help with ongoing hiring efforts.

"This is a significant milestone for Bionym," said Karl Martin, CEO of Bionym. "We're establishing the Nymi as the de facto platform for persistent, trusted identity, and this round of financing is providing us with the resources needed to bring the platform to market. We continue to grow our world-class team, solving hard problems around persistent authentication, seamless and trusted interactions, and hyper-personalisation of experiences.

"We're at the forefront of a revolution in identity-based interactions with devices and services, and our momentum continues to grow with the support of our investors and strategic partners."