ASK, a France-based developer of contactless technology, has closed a € 4.7m (approximately US$ 6.1m) financing.
The round was led by existing investor CDC Innovation, with participation from new (undisclosed) investors.
The company intends to use the funding to strengthen its worldwide presence.
Led by Chairman of the Board Mr. Philippe Geyres, ASK provides a full range of contactless products including smart cards, smart tickets, readers, inlays for electronic passports or contactless smart cards and eDocuments. The company, which already has a global 25% market share in the mass transit sector for contactless cards, plans to expand in the secure documents sector with biometric passports, eID cards or electronic driver license.
ASK has manufacturing sites and subsidiaries in France, China, India, Mexico, Brazil, South Africa and the US.