Biowatch SA raises CHF 1.2M seed round to finalise its disruptive wearable biometric authentication solution
Lausanne, Switzerland, January 17, 2017 - Biowatch SA, a Swiss start-up, has successfully closed last December an oversubscribed first financing round at CHF 1.2 million to accelerate the development of its solution on biometric authentication for wearables. This seed round is following a CHF 800k grant from the CTI in last February and a CHF 100k loan from the FIT last June. It was led by serial entrepreneur and business angel Patrick Delarive with participation from the Venture Capital fund Polytech Ecosystem Ventures and SICPA Finance. Further investments from various business angels completed the investment.
The funds will be used to secure talents and especially to rapidly expand the engineering team and to bring the product to its first wearable version. Indeed, Biowatch aims to deliver a first series of pre-production products this year to its clients to prove the viability of the product and business model. Mr. Matthias Vanoni, co-founder of Biowatch SA, said: “Our partners are looking forward to having functional and wearable prototypes so they can test it in a real-life situation. This is a big step for Biowatch’s team as it will give our project more visibility and credibility”. Biowatch is currently working with major actors in the access control domain, automotive industry, banking industry and in the watch industry to integrate its technology. Biowatch announced during the investor summit organised by the Swiss Economic Forum on January 16th ( video here ), the opening of the next round of financing, Series A, now available for investors.