Israel-based FST Biometrics is now being supported by GMF Capital. The investment firm has committed $15 million to the company, and has appointed Ehud Barak, the former Israeli Prime Minister, to FST’s board of directors.
It’s a major show of faith in the biometrics company, and a bolstering of its credibility in the market. Speaking on the developments, Gary Fegel, the investor behind GMF Capital, emphasized the selectiveness of his investment firm and noted that FST is unique, saying, “I strongly believe that FST Biometrics stands out as a best-in-class technology solution with a strong, motivated management team poised to disrupt the existing market and deliver attractive growth.
Former Prime Minister Barak, meanwhile, pointed to his own political experience in affirming his support of FST, asserting, “Based on my deep knowledge of Israel’s security ecosystem and the secure access solutions market, I am convinced that FST Biometrics has developed the market leading Secure Identification solution for today’s market and that of the foreseeable future.”
FST is known primarily for its IMID (In-Motion Identification) technology, which combines facial, voice, and motion pattern recognition for a comprehensive multi-modal biometric identification system. IMID Access, FST’s installation access control system, was recently deployed at a high-profile social and athletics club in Toronto; the company also recently debuted a mobile version, which can be a useful identification tool for security personnel and the like, and a portable version of IMID Access called IMID Rapid.
May 11, 2015 – by Alex Perala