Wireless Security Startup Secures $12.5M From Nokia, Ericsson
Online staff -- Electronic News, 9/17/2002
Silicon Valley startup I-Control Security today announced $12.5 million second round financing, with backing from key wireless handset manufacturers Nokia and Ericsson.
I-Control said this was the first collaboration between two of the world’s largest wireless communications venture funds, Nokia Venture Partners and Ericsson Venture Partners.
The company is developing a personal digital security platform that allows enterprises, service providers and wireless operators to protect corporate digital assets and personal data while supporting users of laptop computers, PDAs, cell phones, and other digital mobile systems. The end-to-end authentication platform consists of a fingerprint sensor, algorithms, and server-connectivity software. I-Control believes this is the industry’s smallest, lowest-cost, lowest-power fingerprint sensor, and has superior functionality to rival applications from Atmel, Infineon and ST Microelectronics.
I-Control said its platform is aimed at placing control of digital IDs in the hands of end-users and enterprises, rather than relying solely on an external authentication authority, by binding the individual user to the device. This technology could be used to kickstart the mobile commerce market, the company said.
"The growth of smart devices and secure mobile communications is hindered by the lack of robust authentication solutions," said J.C. Huang, managing director of Ericsson Venture Partners in New York. "We believe I-Control’s personal digital security technology can remove that obstacle."
I-Control hopes to establish a new mobile security standard for mobile authentication.
"Such a standard could enable a host of new, secure, data services allowing wireless carriers to provide differentiated offerings that generate the higher per-customer revenues and customer retention they covet," said Anthony G. Bozzini, I-Control’s chairman and CEO, in a statement.
Campbell, Calif.-based I-Control said it has applied for more than a dozen patents covering its end-to-end authentication systems and architecture. |
